Apply for Financial Aid: WELCOME   STEP 1 - STEP 2 - STEP 3 - PARENTS
 

Welcome to the PLUS Loan page for Averett University. Please read and follow all instructions. .

The following are preferred lenders for Averett University. Parent borrowers should carefully compare borrower benefits offered by each lender before making a selection. Choose your lender based on the benefits that are the best fit for you, even if you do not have an existing relationship with that lender.

When you have decided on a lender, click on the lender name to proceed to the next step.
EDAMERICA

Effective for loans guaranteed on or after May 15, 2008:

  • 0.25% interest rate reduction for auto-debit with continuous on-time payments
  • Instant credit decision and easy application process online and by phone
  • Parents may postpone payment while student is enrolled at least half time
  • No pre-payment penalties
  • One point of contact for life-of-loan servicing
  • Non-profit funded company
  • 20 years of experience concentrating solely on student loans

 

Loan Policy Regarding Selling Loans 2007: Our Policy is not to sell your loans.
SUNTRUST

Effective for loans guaranteed or first disbursed on/after January 1, 2008:

  • Fixed interest rate of 8.5%
  • 1.5% principal reduction after making the first 12 on-time payments
  • 0.25% interest rate reduction for payments made by auto-debit
  • Parents can delay repayment through our Pay Now, Pay Later® option while student is enrolled in school at least half-time
  • Graduate students can defer payments while enrolled in school at least half-time
  • No pre-payment penalties
  • Consolidation options available

Loan Policy Regarding Selling Loans 2007: Our Policy is not to sell your loans.
AMS

Direct RepaySM -  Borrowers who authorize the automatic debit of funds from their checking or savings accounts to cover their monthly education loan payments will receive an interest rate reduction of 0.70 percentage point on their eligible Parent PLUS Loans.  This benefit remains available during active repayment for as long as the borrower's monthly payment is successfully deducted from the borrower's account.

Loan Policy Regarding Selling Loans 2007: Our Policy is not to sell your loans.
WACHOVIA

Effective for loans disbursed on or after July 1, 2008:

  • Interest rate reduced 1% after first 36 scheduled payments are made on time by auto debit.
  • Benefit repair: If borrowers miss one of the first 36 payments, they can restore their eligibility for the rate reduction by passing an online financial literacy course

Loan Policy Regarding Selling Loans 2007: Our Policy is not to sell your loans.

Preferred Lender Statement
The Financial Aid Office at Averett has selected a diverse list of lenders that offer the highest level of service and other benefits for our students. We base our decision on who makes this list on a number of considerations which include: Ease of processing, borrower benefits, customer service and whether or not the lender sells its loans. Students have the right to choose any lender that participates in the federal student loan program and we are required to accommodate the student if he/she chooses a lender not on our list. However, we feel that a preferred list is a helpful tool for students because the Financial Aid Office has investigated and determined that its lenders are top-notch and will service our students with excellence during all stages of the student loan process. If you would prefer to use a lender who is not on our lender list, please contact the financial aid office.

The information in this list has been provided by each lender and is subject to change at any time. Accordingly, neither ECMC nor the school can verify the accuracy of the information or how current it may be.

420 West Main St., Danville, VA 24541  |  Phone: (434) 791-5600  |  1-800-AVERETT