Loans

Awards to students which must be repaid, usually with interest.

It is felt that there is sufficient other aid which, with assistance from the family, will preclude the necessity for loans. To prevent large, unnecessary debt, EAC has withdrawn from participation in the federal student loan programs.

Borrowing and Loan Repayment

Several web sites feature repayment calculators that allow students to enter a total loan amount and determine the monthly payment under various repayment options.

Finaid www.finaid.org

Sallie Mae www.SallieMae.com

USA Group www.usagroup.com

ASAP/Union Bank Student Loan Information www.asapubt.com

Citibank www.studentloan.com

If savings or funding is not sufficient, families should consider private education loans. Terms and conditions for these programs vary. Families should comparison shop, being sure to find out how various features of these loans affect both the monthly payment amount and the total cost of the loan.

Private Educational Bank Loan Resources

EAC is not affiliated with any private lenders. If you are interested in pursuing a private education loan please contact your bank for information and referrals.

Financial Planning

Online Financial Planning Guide www.edwise.org

Credit Survival Resources studentloannet.com/before/credit.htm