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We at FirstBank Southwest have long believed that everyone should have the opportunity to pursue a higher education. We do not want the lack of financial resources to hold our customers back. We would like to be your partner and lender that help in this endeavor. We participate in the Federal Family Education Loan Program. Our lender ID is FirstBank Southwest 810721.

The Decision to Borrow

Borrowing to pay for an education is an important personal and family decision. Higher education is expensive but worth the investment of time, effort, and money. Research shows that higher education can significantly increase what an individual earns over a lifetime. There also may be tax benefits available to assist with the cost of the loan. Our student loans are serviced by Panhandle Plains Student Loan Center, our partner and student loan servicing specialist. If you decide to borrow, you will enjoy the following benefits:

• Zero Origination fees**
• 1% principal reduction after 12 months of consecutive, on-time payments*
• In addition, enjoy a 0.25% interest rate reduction when you pay with an automatic draft from your checking or savings account.*
• As a bonus, Panhandle-Plains will forgive up to the last $500 of your account balance with qualified on-time payments during the life of the loan.*

*Conditions subject to change without notice and lender selected. Most but not all partnering lenders offer these incentives. Visit www.ppslc.com for more details.
** Not applicable to PLUS Loans.

Types of Loans

• Stafford Loan - Subsidized and Unsubsidized
• Parent PLUS Loan (Parent Loan for Undergraduate Students)
• Graduate/Professional Plus Loan

Subsidized Stafford Loan -
This is a need based Federal Student Loan for Undergraduate and Graduate Students. The Federal Government pays the interest on these loans during school, the grace period and any authorized deferment periods. Repayment begins after a drop in enrollment below part-time and following a six month grace period. The minimum monthly payment is $50.00. Early principal and interest payments can be made without forcing the loan into repayment.

Unsubsidized Stafford Loan -
This is a non-need based Federal Student Loan for Graduate, Independent Students (as defined by the Federal Government) and Undergraduate Students whose parents have been denied a Parent PLUS Loan. Interest accumulates during school, the grace period and any authorized deferment
periods. Repayment begins after a drop in enrollment below part-time and following a six month grace period. The minimum monthly payment is $50.00. Early principal and interest payments can be made without forcing the loan into repayment.

Parent PLUS & Graduate/Professional PLUS Loan -
These are credit-worthy Federal Student Loans for Parents of Undergraduate Students and for Graduate/Professional Students allowing applicants to borrower up to the cost of attendance minus other aid received. Repayment begins 60 days after the full loan disbursement is made. Deferment options may be available. Parents PLUS and Grad PLUS loans will require applicants to complete a pre-approval application. A Parent PLUS denial is required for a Dependent Undergraduate to receive an Unsubsidized Loan. The current interest rate for these loans is fixed at 8.5% and is set for all lenders by the Federal Government.

Loan Details:

The current interest rate is fixed at 6.8% and is set for all lenders by the Federal Government. The amount of Subsidized and Unsubsidized Federal Stafford Loans combined is:

Dependent Undergraduates can get up to $3,500 in subsidized loans in year 1; $4,500 in subsidized loans in year 2; $5,500 in subsidized loans in years 3, 4, and 5. The maximum lifetime amount is $23,000.

Independent Undergraduates can get an additional $4,000 more in unsubsidized loans in years 1 and 2; $5,000 in unsubsidized loans in years 3, 4, and 5. The maximum lifetime amount is $46,000.

Graduate/Professionals can receive a maximum of $20,500 a year (no more than $8,500 can be subsidized). The maximum lifetime amount is $138,500 (combined with any undergraduate loans.)

These amounts are based on a full-year program and include Subsidized and Unsubsidized Stafford Loans. Expect lower amounts if the program is less than a full year.

To apply:

Visit the financial aid office or website of the school of your choice before beginning this process. They may have a preferred process. When asked to choose a lender, select FirstBank Southwest 810721. If FirstBank Southwest is not listed as a bank option, please contact the financial aid office and inform them of your choice. The Federal Government ensures your right to use the lender you are most comfortable with and we thank you for choosing us.

If you have any questions about an existing student loan, or about the tracking or processing of student loans, please contact Panhandle Plains Student Loan Center at 1-800-736-5727.