The Vermont Student Assistance Corp. has sold $29.9 million in bonds to raise money to loan to Vermont students.
The loans can be used in the 2014-2015 school year by Vermont students attending colleges in the U.S. or abroad, or by out-of-state students attending Vermont institutions.
Undergraduate and graduate students can qualify for the Vermont Advantage student loans with fixed interest rates potentially as low as 5.58 percent APR. A qualified co-signer is required.
VSAC is a public, nonprofit corporation created by the Vermont Legislature in 1965 to help Vermonters plan and pay for education or training beyond high school.
In addition to college loan and grant programs, VSAC administers Vermont’s 529 college savings plan. The organization also conducts outreach to encourage low-income students to acquire higher education, and assists with college and career planning services for all Vermonters.
The organization received an ‘AA’ rating from Standard and Poor’s and an ‘A’ rating from Fitch Ratings after the sale of the bonds was announced.