Why choose Edamerica as your PLUS lender?

America truly is a land of dreams, and a college education is still the vehicle that drives the American Dream. Parents have dreams too. That's why Edamerica offers a fixed interest rate of 8.5% and 0.25% auto-debit rate reduction on parent loans for undergraduate students.  The following borrower benefits are effective for loans first disbursed on or after May 15, 2008. Conditions apply.

• 0.25% interest rate reduction for auto-debit and on-time payments
• Instant credit decision and easy online application
• Flexible repayment options
• Full payment deferral for up to four years while your student is in school
• Interest may be tax deductible
• There are no income or collateral requirements
• You may be eligible for more savings depending on your state and school. Select the state in which your student will attend school to see a complete listing of benefits.

Eligibility for a PLUS Loan

The PLUS loan is available to parents of dependent, undergraduate students. An eligible parent borrower is a dependent student's natural or adoptive mother or father. The spouse of a parent who has remarried is an eligible borrower if his/her income and assets were taken into consideration when completing the Free Application for Federal Student Aid (FAFSA).

You must be a U.S. Citizen, U.S. national or eligible non-citizen to qualify. Credit guidelines will apply in determining your eligibility. You are eligible for a PLUS loan for each child who is enrolled at least half-time in school and meets the school's standards for satisfactory academic progress. Eligibility for PLUS loans is not based on need or income.