Borrowing Federal Loans through LELA

Published 10/13 2013 10:08PM

Updated 10/13 2013 10:09PM

Borrowing Federal Loans through LELA

LELA offers you one of the better deals when it comes to borrowing federal student loans. In LELA’s most recent update you’ll find the agency covers most of the upfront fees including origination and default fees. LELA loans:

  • Stafford Loans are one of the most popular federal student loans. Subsidized Staffords are awarded to students with a certain degree of financial need and unsubsidized are available to almost everyone. You’ll find many students carry a combination of both. Interest rates are low and fixed and LELA pays your fees. These are a no-brainer. Complete the FAFSA to be qualified.
  • PLUS Loans for Graduate and Professional Students give those Louisiana students beyond undergraduate studies the next level of federal aid. These loans may only kick in once you’ve maxxed out your Stafford Loans. Apply with the FAFSA. LELA covers your default fees.
  • PLUS Loans for Parents are credit-based, low-cost alternatives for parents with undergraduate kids to put through college. When all other federal loans and grants are paid out, leverage the Parent PLUS loan to cover the balance remaining on your kid’s education. Better than a home equity line of credit. Borrow through LELA and you won’t have to pay the default fee.

Discover more about federal student loans.

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