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Guide to Astrive Student Loans – What You Should Know

Nowadays a wide variety of educational loans is assessable to college and university students, so they can complete their higher studies. These student loans include federal and private student loans. When federal student loans aren’t enough to cover all the educational costs, students usually seek for private loans.

One of the most popular private student loan lenders are Astrive student loans. They are similar to federal student loans: they also offer different repayment plans, the same six months grace period after graduation and the application process is very similar. The difference is in the amount you can borrow; under the federal student loan you can take a certain amount of loan, but the Astrive Student Loans offer more flexible loan amounts per student. Students enrolled in undergraduate programs can borrow a minimum of 3,000 dollars to 45,000 dollars per academic year. The maximum limit permitted is 75,000 dollars.

Repayment Plans

The Astrive Student Loans offers three repayment options. Under the first repayment alternative, you have to repay the full loan amount after graduation and you have to be considered at least as a part-time student. The second repayment option also requires at least a half time attendance and it allows you to pay only for the interest during your period in school. Under the last repayment plan, you can choose to pay off the lower amount of interest for your loan. The interest rates are variable, but the Astrive student loans do not include any penalty charges for early payments.

Astrive Student Loans Eligibility

To qualify for the Astrive student loans, potential borrower must meet some requirements, such as credit score, cosigner on student loan application, school information and other.

Credit Score

The most important condition is your credit score. To be eligible for this type of student loan, you must have at least twenty one months of an established credit history.

Cosigner

Since the majority of college students haven’t got credit history, the large number of them applies for Astrive private student loans with a cosigner. Cosigner must have a good credit history and he or she can be a family member or person you know well. Having a cosigner can be helpful in the terms of getting a good line of credit, usually with lower fees and rates. In addition, having a cosigner on your application may help to attain Astrive loan in the short amount of time; you can have your student loan approved in just five business days.

Other requirements

To be eligible for Astrive student loans, you will need a proof of enrollment; you will have to provide the name of the school you are going to attend as well as your student status. You must have at least a half-time status in order to qualify. In addition, you will need to provide the proof of income, citizenship status, etc.

Astrive Student Loans Benefits

Students can benefit from taking Astrive student loan of loan in a number of ways. Firstly, the loan application process is easy and approval process doesn’t take long. Secondly, this student loan covers all other educational operating expenses which are not covered with other types of student financial aid. And l, it includes procedure for loan deferment and a deduction in loan repayment options as well as some other services.

Astrive Lending Suspension

Unfortunately, similar to many other private student loan programs, the Astrive Student Loans has been affected with the unstable financial circumstances. As a consequence, the Astrive Student Loan program is incapable to accept a new student loan application as of November 3, 2008.

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