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CollegeInvest
Student, Parent and Consolidation Loans
Thinking Ahead for All Your Financial Needs
A good education is an investment in the future. Good planning
combined with good financial resources can make college dreams a reality. Vectra
Bank is committed to thinking ahead for your financial needs. That’s
why we connect you to valuable resources for today’s needs and
tomorrow’s opportunities. CollegeInvest is just such a resource.
CollegeInvest is a not-for-profit division of the Colorado Department
of Higher Education. As such, our only goal is to help students get an
education beyond high school. So we work hard to provide expert information,
simple planning tools, scholarships, savings plans, and low-cost student
and parent loans to take your education dollars as far as they can go.
Learn more about CollegeInvest
and Loan Programs today!
Getting Started
College money can come from many different sources:
family income, savings, investments, retirement, scholarships, and
financial aid. However,
two-thirds of all full-time students receive some type of financial aid,
and federal loans are a popular choice.
Student loans are funds paid back at federally capped, low interest
rates. CollegeInvest offers low-cost loan packages to students and to
parents of students who attend Colorado colleges, and to Colorado residents
who go out of state.
Federal Stafford Loan
Families of all income levels can usually qualify for these low-interest student
loans. There are two types of Stafford loans: subsidized and unsubsidized. On
a subsidized Stafford loan, the government pays the interest on your loan
while you are in-college, in a grace period, or in a deferment. On
an unsubsidized Stafford loan, you are responsible for all accrued interest
while you are in college, grace or deferment. You can choose to either pay
the interest, or have it capitalized to your principal.
PLUS Loans for Parents and Graduate Students
A special loan program for parents and graduate students, PLUS loans are an
easy, affordable way to meet your higher education financing needs. PLUS
loans are often more attractive than home equity loans, as no collateral
is required. With just a quick credit check, most borrowers are able to secure
the additional financing required to bridge the gap in making your or your
child’s higher education dreams a reality.
All Loans are Not Created Equal
Since CollegeInvest is
a not-for-profit, they can offer the most competitive terms in the state.
While interest rates on all Stafford and PLUS loans are set by the federal
government and are the same at all lenders, CollegeInvest offers special
borrower benefits* that can really add up.
Stafford Loan benefits
- Zero origination fees
- 1% of your principal balance is rebated as soon as your loan is disbursed
- 1% interest rate reduction when your loan repayment is automatically
transferred from your bank
- 1% interest rate reduction after you make the first 24 consecutive
on-time payments
- 1% additional rate reduction after you make another 24 on-time payments
PLUS Loan benefits
- 3% rebate when your loan is disbursed
- 0.25% interest rate reduction when your loan repayment is automatically
transferred from your bank
- 5% principal balance reduction after you make payments on time for
the first 30 months
With CollegeInvest’s great borrower
benefits, you could significantly reduce your interest rate and cut
down your principal balance!
*Benefits are for new loans disbursed on
or after 7/1/06 and are subject to change without warning.
CollegeInvest Alternative Loan
The CollegeInvest Alternative
Loan is a private, variable-rate loan. You can borrow as much or as little
as you need based on the cost of attendance minus any other financial
aid you receive. And with CollegeInvest's competitive interest rates,
borrowers or cosigners with a high credit rating could be eligible for
one of the lowest rates around! Apply today at www.collegeinvest.org
for an instant credit decision. Once approved, you'll have access to
your loan within days.
Fast and easy
- No fees
- Quick funding
- Easy application
Terms and Benefits
- No annual or lifetime maximum dollar amount, $1000 minimum loan amount
- Payment can be deferred until up to six months after graduation
- Up to 20-year repayment term
- No prepayment penalty
Eligibility
- Must credit qualify or provide an eligible cosigner
- Must be a U.S. citizen or permanent resident
- Must be enrolled in classes at least half-time at an eligible 4-year
institution of higher education
- Must meet satisfactory academic progress requirements established
by the school
- Must apply within your school's enrollment period
Student and Parent Consolidation Loans
After
you or your son or daughter leave college, you may want to consider student
loan consolidation. Consolidation is a debt-management strategy that
allows borrowers to lock-in a low interest rate while cutting monthly
payments, often by more than half. Again, because CollegeInvest
is a not-for-profit, they offer the best consolidation loan terms in
the state. For more information on whether this strategy is right for
you, contact a consolidation counselor at 1.800.448.2424, or visit their
website at www.collegeinvest.org.
Each family has unique needs. CollegeInvest can help
you pull together
the right mix of sources to create your unique
college financial plan.
Take advantage of the resources and learn more
about all your options today.

CollegeInvest
1801 Broadway, Suite 1300
Denver, CO 80202
www.collegeinvest.org
1.800.448.2424
Fax 303.296.4811
This information is provided solely
as a convenience to users of Vectra Bank's web site. CollegeInvest.org
is not affiliate of Vectra Bank and we are not responsible for its products,
services, website content or any link that is contained in, or extends
from, CollegeInvest.org. Vectra Bank's privacy policy does not apply
to products or services obtained through CollegeInvest.org. Please
review the CollegeInvest privacy statements available on its website
for detailed information.
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