Terms & Conditions
1. NEA members receive a 0.25% interest rate reduction on Parent loans that are opened through the NEA member benefits portal. The NEA member discount will be applied to your loan account after the initial disbursement occurs.
2. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
3. In order to receive up to $2,500 direct, a valid bank account must be designated for direct deposit of funds, and $1,000 or more must be certified by, and scheduled for direct disbursement to, the school.
4. This informational repayment example uses typical loan terms for a parent borrower who selects the Full Principal & Interest Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 6.83% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $114.82 while in the repayment period, for a total amount of payments of $13,778.89. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
The NEA Parent Loan Program is provided by College Ave Student Loans. College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.