Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Certain restrictions and limitations may apply. Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Ascent Funding, LLC, the loan processor, and may be used by Bank of Lake Mills under limited license.
2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.
3. There are three (3) flexible in-school repayment options that include fully deferred, interest only and $25 minimum repayment. Click here for a repayment example.
4. Flexible repayment plans may be offered with up to a twenty (20) year repayment term (for variable rate Graduate Medical and Dental School Loans), fifteen (15) year repayment term for other variable rate loans and a fifteen (15) year repayment term for fixed rate loans. Students must be enrolled at least half-time at an eligible school. Minimum loan amount is $2,001. Click here for a repayment example.
5. Interest rate reduction of either 0.25% (for Credit-Based Loans) or 1.00% (for Undergraduate Outcomes-Based Loans) applies only when the borrower and/or cosigner sign up for automatic payments and the payment amount is successfully deducted from the designated bank account each month. The amount of the discount is dependent upon the loan product and credit history of the borrower at the time of application. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of in-school, deferment, grace or forbearance, unless a regular payment amount has been arranged with the servicer. If you have two (2) consecutive returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the interest rate reduction. You will then need to re-qualify and re-enroll https://paydayloansohio.net/cities/coshocton/ in automatic debit payments to receive the interest rate reduction. (See Automatic Payment Discount Terms & Conditions.)