Please Note: The interest rate for loans first disbursed July 1, 2006 or later is fixed at 8.50%.
*For information on loans disbursed between July 1, 1998 to June 30, 2006, please contact Regions Educational Lending Center at 1-800-858-7822.
Money-saving borrower benefit
When you get a Parent PLUS Loan from Regions Bank you can take advantage of the following benefit:
**Use automatic debit and save You may qualify for a 0.25 percentage point interest rate reduction when you make payments on your federal loans by automatic debit.
Upromise® can help you pay down your loan
Take advantage of Upromise Loan Link to help you pay down your loan. Join Upromise and you can earn rewards on your everyday purchases from leading participating companies. Then link your Sallie Mae-serviced loan account to your Upromise account and designate a percentage of the earnings in your Upromise account to be transferred to your eligible Sallie Mae-serviced student loan account on a quarterly basis to help pay down your balance. Join today at http://www.upromise.com/regions.
No payments during school
Payments on a Parent PLUS Loan begin within 60 days of the loan's final disbursement. †However, with Sallie Mae's delayed repayment, if you have trouble making payments, you may temporarily postpone making payments through forbearance, including for up to 60 months while your undergraduate, dependent child is in school. Delayed repayment, if you qualify, is available for up to 12 months at a time and is renewable.
For more information, please call 1-800-858-7822 or email Studentlending@regions.com.
Loans are subject to credit approval.
* Terms and conditions apply. ** Borrowers who authorize the automatic debit of funds from their bank account to cover their monthly education loan payments will receive an interest rate reduction of 0.25 percentage point during repayment on eligible Parent PLUS Loans. Assuming the loan is serviced by Sallie Mae, the benefit remains available for as long as the borrower's monthly payment is successfully deducted from the borrower's bank account. Borrowers can elect to make payments via automatic debit through Sallie Mae's online account management system. This benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment or forbearance. If the loan is not serviced by Sallie Mae, other restrictions may apply.
† You are responsible for the interest that accrues during this forbearance. Unpaid interest will be capitalized (added to loan principal) so you will pay interest on a higher loan amount. Delaying payment may affect eligibility for borrower benefits.
Upromise Loan Link is a service mark and Upromise is a registered service mark of Upromise, Inc. Sallie Mae is a registered service mark and Manage Your Loans is a service mark of Sallie Mae, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America.