Kansas Student Loans

Borrow at the Best Interest Rates

USA Funds has been the student loan guarantor for the state of Kansas since the early 1990s. The not-for-profit organization manages a host of services, not the least of which is guaranteeing the Federal Family Education Loan Program.

Above and beyond this USA Funds maintains a valuable set of resources that are usable for families and college-bound students all the way from planning for college to actually applying for loans and scholarships.

USA Funds and Mae Connection

USA Funds works with a wide spectrum of lenders, including Sallie Mae, perhaps one of the most well known student loan lenders and servicers, to fill in the gaps in services. Student borrowers are free to choose almost any student loan lender they wish.

If you are a Kansas resident and heading off to college, you might explore the range of student loans furnished by Sallie Mae . SLM specializes in providing innovative private loan solutions for college students, including non-traditional and non-degree seeking borrowers.

Alternative Student Loans: A Must-Have

Almost all students must apply for federal loans the most popular of which is the Stafford Loan. But the funds just don’t add up in the end. When your tuition bill comes in you will likely be shopping for an alternative or supplemental student loan. Sallie Mae’s stable of alternative loans includes something for just about everyone; from community college to continuing education. Among them are the following:

• Sallie Mae’s Signature Student Loan is perhaps the company’s flagship loan designed for undergraduate students attending school at least part-time.
• Tuition Answer Loan offers more flexibility than the Signature loan and may be beneficial for some students. The loan lets you pay for a whole host of “college-related expenses.” Program offers repayment options, loan deferment and a large credit limit.

Applying for Loans

Any alternative loans you apply for require you to go through a credit check. If you are like the almost half of all college undergraduates you are going to require a co-borrower who does have good credit. Many students opt for a parent, guardian, other relative or a trusted friend. The better your co-borrower’s credit, the better your interest rate on loans. Make sure you and your co-borrower understand all the nuances of your loan before you sign on the dotted line.

Repaying Loans

At some point your loans will come due. Depending on the loan you may be required to begin paying as soon as your loan is disbursed. These payments are typically only on the interest and may be able to be deferred until after graduation. Other loans do not require you pay anything until after graduation. After graduation often means a six-month grace period, as well. You can expect to have multiple loans to repay if you have federal loans and a private loan. For many recent graduates loan repayment can become unwieldy and overwhelming. When this happens you can’t just let your loans fall into default.

Consolidation Loans

Sallie Mae offers two options for consolidating loans, one for federal loans and the other for private. Consolidation loans take all your current student loans and basically roll them into one. However, the new loan gets new terms, i.e. longer repayment, and low monthly payment.

When in doubt about being able to make your payments always consult with your lender.