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HELP Select Private Loan

For many students and their families, The Help Select Loan provides affordable academic financing solutions.
Interest Rate:
  • Variable, LIBOR + 4.65 - % - 7.25%1, based on credit history
Fees:
  • 6.5 % to 10.5 % based on credit history
Loan Limit:
  • Cost of education less financial aid received
Repayment:
    undergraduateS:
  • Make no payment while in school for up to four consecutive years (up to five years if enrolled in a 5-year program).
  • Repayment of principal and interest begins approximately 180 days after graduation or withdrawal from school. Interest is capitalized once at repayment.
    GRADS:
  • Payments begin 6 months after graduation or enrollment drops to less than half-time.
Credit decisions:
  • Instant credit decisions by phone or on-line
Discounts:
  • N/A
Co-signer Release:
  • N/A

Eligibility Requirements

To be eligible for a Help Select Loan, the borrower must be:

  • An undergraduate or graduate student (18 years or older) in a degree or certificate program
  • Enrolled at least half-time as defined by your school
  • Attending a TERI-approved school
  • Making satisfactory academic progress as determined by your school
  • Meeting the credit guidelines (see below)
  • An international student with a U.S. citizen or permanent resident co-signer

Credit Guidelines

Either you or your co-signer must:

  • Have a satisfactory credit, residence and employment history of at least two years
  • Have proof of current income
  • If self-employed, have been in business for at least two years
  • Be a U.S. citizen or permanent resident and have resided in the U.S. for the previous two years
  • If an international student, apply with a qualified and credit-worthy U.S. citizen or permanent resident co-signer

The Help Select Loan is offered by AFC in cooperation with TERI. AFC is the marketing agent for the originating lender.

For more information, call:

Phone: 1-866-786-1767
Click to Apply Online

Footnotes

1 The London Interbank Offered Rate Index (LIBOR) is an average of the interest rates that major international banks charge one another to borrow U.S. dollars in the London money market. The LIBOR index is published daily in the “Money Rates” section of the Wall Street Journal.

Updated: 10.01.2005
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