Welcome to the PLUS Loans page for Northwest College.

0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers*

• The rate reduction applies for the life of the loan. Once you earn the reduction, it’s yours!
• For your convenience, Bank of America verifies that you have a checking or savings account.  You do not need to provide documentation.
• ACH is not required to obtain this benefit.

*If the first disbursement on your loan is before 6/30/09, a 0.25% interest rate reduction applies if you have a Bank of America checking or savings account open for at least 60 days between your loan disbursement and your first scheduled payment.  Your rate will be reduced shortly after you make your first scheduled payment on time.  To see our checking and savings accounts, visit https://www.bankofamerica.com/index.isp and click “Checking” or “Savings & CDs”.

• Automatic 0.50% interest rate reduction at repayment.
• 1% Default Fee paid by guarantor
• Benefit Recovery Program on the automatic interest rate reduction. Make 24 consecutive on-time monthly payments to recover the automatic interest rate benefit any time during the life of a loan.
• 0.25% interest rate reduction for automatic debit payment program and the borrower agrees to receive electronic statements only.

• Flexible repayment options
• Full payment deferral for up to four years while your student is in school
• No income or collateral requirements
• Life-of-loan servicing through Edfinancial Services

Effective for loans guaranteed on or after June 9, 2008

• 0.25% Interest Rate Reduction for automatic debit

• U.S. Bank offers an immediate .25% interest rate reduction. This reduction is maintained during periods of deferment and forbearance.
• Borrowers receive a .25% interest rate reduction for agreeing to have payments automatically deducted from a checking or savings account. Borrowers can sign up and receive the interest rate reduction at anytime during the repayment period, and automatic payments from other banks' checking accounts qualify for the interest rate reduction discount.
• Borrowers can receive an additional 5% credit of the original principal balance after 36 consecutive monthly on-time payments (Automatic payments are not required to receive the 5% credit after 36 months of on-time payments.)
• Payments are considered on-time if received no later than 20 days beyond the due date.