thankyou

Thank You for Applying!

Thank you for choosing the Arizona Higher Education Loan Authority (AHELA) as your student loan provider. We have partnered with your school to make the loan process fast and easy.

Your application has been successfully completed.
For questions regarding your application, you can reach our knowledgeable customer service provider during normal business hours of 7:00 AM to 5:00 PM CST, Monday through
Friday at 1-800-835-1161.

Thank you again for selecting The Arizona Higher Education Loan Authority (AHELA), a non-profit lender providing cost saving options to finance your education.

Additonal Information:

Eligibility
When applying for a Federal Student Loan you should have submitted a Free Application for Federal Student Aid (FAFSA) and obtained an Award letter from your school indicating the loan amount for which you qualified.

Fees
Many lenders charge origination fees of up to 3.00% of the total loan amount. These fees go to the federal government to help make up the cost of student loan programs. In addition, guarantors may charge a fee of up to 1.00% of the total loan amount as an insurance against student loan default.

AHELA currently pays the 1.00% default fee to save you money on all of it's student loan programs and we pay the origination fee for all Stafford borrowers. In addition, we offer generous interest rate deductions. For more information, please select the loan program below:

Stafford Loan Programs

Parent PLUS Loan Program

Grad PLUS Loan Program

Consolidation Loan Program

Interest Rates
All student loans disbursed after July 1st, 2006 have a fixed interest rate:

Stafford Loan: 6.8%

Parent & Grad PLUS Loans: 8.5%

Disbursements
Once you have completed your application, your financial aid office will determine your scheduled payments for the academic year. Ahela will disburse your check to the school who will apply them to your tuition bill. Remaining funds will be provided to you.

Repayment Terms
Repayment begins within 60 days after the final disbursement of the loan. Because you are the borrower, you're responsible for repaying the loan in full. PLUS loans do not have a grace period, although you may apply for a forbearance if you are unable to make payments. During a forbearance period you will not be required to make payments, but interest will continue to accrue on your PLUS loan.

Standard Payment Plan - You pay the same amount each month for up to 10 years towards the principal and interest of the loan. The minimum payment amount is at least $50 per month.
Graduated Payment Plan - You begin repaying your loan with a lower payment and increase that amount after two to four years. The minimum payment amount is at least $50 per month.
Income-Sensitive Payment Plan - You may repay your loan based on your gross monthly income. You must show income documentation annually and additional documentation may be required.
Extended Payment Plan - You may take up to 25 years to repay your loan if you received your first loan after October 7, 1998 and your combined loans totals $30,000 or more.