Introduction
Brazos is one of many student loan lenders, so how can you know if you should apply here or somewhere else for your financing? Read on to learn about what's available, and use this review to determine whether it’d be worthwhile taking out a loan here, or if there are better options out there.
Why get a student loan from Brazos?
Brazos has some useful options on student loans that may well appeal to you, and push you to take a loan with them. There’s the option to pay much more than you owe at any point without punishment, which isn’t that common, and means that if you come into more money than you were expecting to have, you can clear some of your loans and save yourself a decent chunk of interest payments.
What student loans does Brazos offer?
Brazos offers refinancing for student loans that you’ve already taken out, but only if you're from Texas. You can also take private parent student loans to cover undergraduate and graduate degree programs, but again, the borrower must live in Texas.
Student loan refinancing information
Texas residents can refinance a loan from anywhere in the states, regardless of where they attended school, but you'll need a minimum credit score of 720.
Fixed rates from: | 2.70% - 4.49% |
| Variable rates from: | 1.93% - 4.85% |
| Loan repayment terms: | 5, 7, 10, 15 or 20 (years) |
| Loan amount: | $10,000 to $400,000 |
| Late fees: | 5% of the monthly payment (max $35) |
| Returned payment fee: | Not Stated |
| Prepayment penalty: | None |
Private student loans
Brazos does offer private student loans, but only to parents of students, and these parents will have to be residents of Texas. This will likely appeal to those whose children have run out of options for personal private student loans.
More about rates and fees of Brazos’s loan options
Here’s all the available information on Brazos’ costs:
Fixed rates from: | 2.99% |
| Variable rates from: | 2.89% |
| Application fee: | None |
| Origination fee: | None |
| Disbursement fee: | None |
| Late fee: | 5% of the monthly payment (max $35) |
| Returned payment fee: | Not Stated |
| Prepayment penalty: | None |
