Understanding Your ACS Student Loan
By Mark Kessler
An ACS student loan is one that is serviced
by Affiliated Computer Services, Inc., a company
that is known for outsourcing technology and
business solutions. Many universities use
the ACS student loan because of the company's
reputation for using technology to smooth
over some of the more difficult aspects of
loan services.
With an ACS student loan, students can make
payments online, instantly see the status
of an account, change personal details like
name and address, and receive email notification
when payments have been processed.
A number of different financial aid
programs fall under the heading of an
ACS student loan. One of the major ACS
student loan groups is the Campus Based
Student Loan Program (CBSL), which includes
Federal Perkins Loans, Nursing Student
Loans (NSL), and Institutional Loan Programs,
among others. Another major group of educational
loans handled by ACS is the Federal Family
Education Loan Program (FFEL), which includes
the Stafford (GSL) Loans, PLUS loans to
parents of students, and loan consolidation
services. ACS also handles a group of
educational loans donated by a variety
of private companies.
For those who do not already have an
ACS student loan, applications and guidelines
for different financial aid options are
available online. The ACS website gives
a clear example of how to fill out a Free
Application for Federal Student Aid (FAFSA)
form, and demonstrates what the results
mean in terms of your eligibility for
financial aid. Furthermore, applications
for both Stafford and PLUS loans for parents
can be found on the ACS website, and can
be completed and sent in online.
If you have an ACS student loan already,
you might be interested in learning about
the benefits of student loan consolidation.
The ACS website provides information and
application forms that could help you
lock in a lower rate and reduce your monthly
payment amount.
Other tools that might help you with
your ACS student loan include a repayment
calculator, IRS guidelines about how to
use your student loans for tax relief,
and a glossary of important student loan-related
terms.
All in all, an ACS student loan is one
that will give the borrower the most ease
and flexibility when it comes to loan
servicing from application to repayment
and consolidation. ACS works with a number
of universities across the United States,
including the University of Pittsburgh
and the University of Vermont. Even if
your specific university does not offer
student loans handled by ACS, their website
is a treasure trove of helpful tools and
information, and well worth a look.
Mark Kessler's website Student
Loans 411 offers a comprehensive free
resource of college financial aid for
Consolidating Student Loans, Alternative
Student Loans, ACS, Bad Credit, US Department
Of Education Student Loans, including
a variety student loan articles.
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