 The Signature Student Loan for Community Colleges can help you if grants, scholarships, and Federal Stafford loans have not covered the total cost of your community college education. The Signature Student Loan is the most popular after-Stafford loan.
Eligibility
• You must be enrolled in a community college at least half time and make progress toward your degree.
• You must meet credit criteria.
• You have to be U.S. citizens or permanent residents.
• If you don’t meet credit requirements you can be eligible with a creditworthy cosigner.
Characteristics
• You can concentrate on your studies because there is no income requirement.
• If you want to get a lower interest rate and save a lot of money cosigners will be helpful for you.
• Six-month grace period (like Stafford loans).
• While you are enrolled in school at least half-time no payments are required.
• The Signature Student Loan offers interest rates and fees that reward good credit.
• After making the first 24 consecutive on-time payments of principal and interest as initially scheduled it is possible for creditworthy borrowers request a cosigner release.
• You can get life-of-loan servicing.
• There is no prepayment penalty.
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