Brazos Student Loans
Brazos Parent Loan
Program Details Brazos offers competitive, transparent pricing. Current rates are published at studentloans.com for all credit score bands. Our transparent pricing allows customers to estimate their rate before applying.
Product Description
- Offered to parents, grandparents, other family and friends of benefitting students in one of two products; a fixed or variable rate loan with terms of 5, 7, 10, 15 or 20 years
- Available to finance undergraduate, graduate, MBA, medical, law, and other professional degrees
- Fixed rate loans with rates ranging from 2.95% to 5.65% (as of 06/01/2021 with 0.25% Auto-Pay Discount) depending upon term and borrower credit characteristics
- Variable rate loans resetting monthly and indexed to USD 1-Month LIBOR rate plus a spread ranging from 0.93% to 5.53% (as of 06/01/2021 with 0.25% Auto-Pay Discount) depending upon term and borrower credit characteristics
- All loans have an interest rate cap of 90%
- Fixed and variable rate loans will commence repayment immediately after final disbursement
- Zero origination fees
General Eligibility
To be eligible for a Brazos Parent Loan, applicants must:
- be a Texas resident;
- be a U.S. Citizen or National or permanent resident;
- meet the credit eligibility criteria, including a no adverse history requirement; and
- be obtaining the loan on behalf of a benefitting student enrolled at least half-time at one of over 2,000 colleges nationwide.
Loan Limits
Loans will be made subject to a minimum loan amount of $1,000 and may be up to the cost of attendance, less other financial aid received, as certified by the school.
Income Requirements
Borrower income verification of at least $60,000 of annual gross income ($30,000 if applying with a eligible cosigner).
Credit Score and Debt-to-Income Ratio
Borrowers or cosigners will have a minimum credit score of 720. Borrowers applying with an eligible cosigner may have a FICO score from 690-719. Borrowers or cosigners (if applying with a eligible cosigner) will need a debt-to- income ratio of 40% or less.
Brazos Student Loan
Program Details
Undergraduate | Graduate | MBA | Law | Medical | Dental | Doctoral | Veterinary
Brazos offers competitive rates and transparent pricing.
Current rates will be published at studentloans.com for all credit score bands in June 2021.
Product Description (Available May—Rates listed are estimates)
- Offered to students with fixed or variable rates and loan terms of 5, 7, 10, 15 or 20 years
- Available to finance undergraduate, graduate, MBA, medical, law, and other professional degrees
- Fixed rate loans with rates ranging from 95% to 7.69% (with 0.25% Auto-Pay Discount) depending upon term, credit characteristics and repayment option
- Variable rate loans resetting monthly and indexed to USD 1-Month LIBOR rate plus a spread ranging from 0.99% to 6.64% (with 0.25% Auto-Pay Discount) depending upon term and credit characteristics
- All loans have an interest rate cap of 90%
- Zero origination fees
- Cosigner Release Option
- Deferred repayment (up to 60 months which includes a 6 month grace period)
- Immediate repayment (will commence immediately after final disbursement)
General Eligibility
To be eligible for a Brazos Student Loan, applicants must:
- be a Texas resident;
- be a U.S. Citizen or National or permanent resident or international student with a U.S. Cosigner
- Student’s applying with an eligible cosigner are not required to meet any credit criteria
- Student’s applying without a cosigner must meet the same requirements that an eligible cosigner must meet which includes a no adverse history requirement
- Be enrolled at least half-time
Loan Limits
Loans will be made subject to a minimum loan amount of $1,000 and may be up to the cost of attendance, less other financial aid received, as certified by the school.
Income Requirements
- No income requirement for students applying with an eligible
- Student with no cosigner will need income verification of at least $60,000 of annual gross income
- Cosigner will need income verification of at least $60,000 of annual gross income
Credit Score and Debt-to-Income Ratio
Borrowers or cosigners will have a minimum credit score of 720. Borrowers or cosigners (if applying with a eligible cosigner) will need a debt-to-income ratio of 40% or less.
Brazos offers competitive, transparent pricing.
Current rates are published at studentloans.com for all credit score bands. Our transparent pricing allows customers to estimate their rate before applying. Current Loans: Brazos Parent Loan | Brazos Refinance Loan
Student Loans Coming Summer 2021: Undergraduate |Graduate | MBA | Law | Medical | Dental | Doctoral | Veterinary
General
Lender : Brazos Education Lending, a Texas Non-Profit —2600 Washington Ave, Waco, Texas 76710
Contact Information
: Debbie Urias — (254) 297-7445 | Email: debra.urias@brazos.us.com Randall Larson — (254) 723-1918 | Email: randall.larson@brazos.us.com
Website
Brazos
Our Goal
: Our goal is to improve lives by promoting college affordability and helping students and parents save money on their student loans
Customer Service Origination
: The Brazos Parent Loan is originated and serviced by Firstmark Services, a division of Nelnet. Firstmark Hours: Customer service is available 7:00AM to 7:00PM Central Standard Time at (844) 213-1485. Online Access for Borrowers: Applicants and borrowers have 24 hour access to their loan application as well as their existing loans through Firstmark’s origination and servicing systems.
Online Debt Management Tools
: Firstmark’s servicing platform includes the ability to make payments, review and download statements, obtain payoff amounts, and setup automatic payments from their banking institution.
Brazos Customer Relations
: Brazos has an internal Customer Relations team that coordinates with Firstmark to help support our schools and customers. Office hours are from 8:30AM to 5:00PM Central Standard Time. The team can be reached at (800) 453-0841 or via email at service@brazos.us.com.
