Trustmark Student Loans
How to Apply for Financial Aid:
1) Contact Financial Aid Office
2) Submit all required financial aid forms
3) Eligibility determined by Financial Aid Office
Submit your application to Trustmark using our LENDER CODE 813721. You will be notified of how your money will be disbursed and when it will be sent to the school.
Federal Stafford Loans
Interest Rate:
6.0% for subsidized after July 1, 2008; 6.8% for unsubsdized.
Fees:
1% orignation fee paid to the Department of Education; .5-1% default fee based on guarantor.
Eligibility:
Subsidized is determined by the school based on a need analysis which considers the family
financial condition, estimated costs of education, and eligibility for other financial
aid.
Unsubsidized is determined by the school based on estimated costs of education minus eligibility
for other financial aid. Family income not considered.
Annual and Aggregate Loan Limits:
STAFFORD LOAN ANNUAL LIMITS |
YEAR IN SCHOOL |
DEPENDENT |
INDEPENDENT |
First Year Undergraduate |
$3,500 sub + $2,000 unsub $5,500 Total |
$3,500 sub + $6,000 unsub $9,500 Total |
Second Year Undergraduate |
$4,500 sub + $2,000 unsub $6,500 Total |
$4,500 sub + $6,000 unsub $10,500 Total |
Third Year and Beyond Undergraduate |
$5,500 sub + $2,000 unsub $7,500 Total |
$5,500 sub + $7,000 unsub $12,500 Total |
Graduate/Professional |
$8,500 sub |
$8,500 sub + $12,000 unsub $20,500 Total |
STAFFORD LOAN LIFETIME LIMITS |
Dependent Undergraduate Student |
$31,000 (no more than $23,000 of which may be subsidized) |
Independent Undergraduate Student |
$57,500 (no more than $23,000 of which may be subsidized) |
Graduate/Professional Student (including Undergraduate) |
$138,500 (no more than $65,500 of which may be subsidized) |
Repayment:
No payment of principal is required during the student's in-school period plus six
months; for subsidized loan, interest paid by U.S. Department of Education during
this time; for unsubsidized loan, interest must be paid by borrower or added to
principal loan amount during this time.
Repayment begins six months after the student drops below half-time attendance.
Minimum monthly payment (at least $50) and length of repayment period (generally not more
than 10 years) depends on the total amount borrowed.
Trustmark's lender code is 813721.
Member FDIC |
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School
Links |
Trustmark's
Student Loan
Department is:
Jan Lee
Wanda Cessna
Call
us ... it's free by dialing 1-800-844-2000.
Ask for Student Loans.
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