This also includes living expenses, even for off-campus students. Student Loans Offered by Brazos Undergraduate Student Loansīrazos allows you to borrow up to your school-certified cost of attendance. That's a higher bar than most people can pass, given that 716 is the average credit score nationwide, and the average Texas resident earns about $55,000 per year. If you have a cosigner that meets these requirements, the requirements for the primary borrower become a bit lower. Steep qualification requirements for parent student loans and refinances: Parents looking to borrow for a child's or someone else's education and those looking to refinance will need an income of at least $60,000 per year and a credit score of 720 or higher in order to qualify for these two student loan types.If you're still working on your degree after these four and half years, you'll need to begin making payments while finishing your studies. Deferment automatically ends in four and a half years for in-school borrowers: Ready or not, your deferment will end in 54 months from when you started school.Refinancing only available to bachelor's degree holders or higher: If you're refinancing student loans used to pay for an associate degree or you dropped out of school before finishing at least your bachelor's degree, you're not eligible for a Brazos refinance loan.You'll need to undergo a hard credit check from the very start, which most other lenders avoid because it can cause a temporary dip in your credit score. Cannot check rate with a soft pull: Brazos does not offer the option of a soft credit check to get pre-qualified.Only available to Texas residents: Only Texas residents are eligible for Brazos student loans, although you can use them to fund your own out-of-state education or to pay for another non-resident's education.Internship and medical residency deferment: Interns and medical residents don't earn much, so Brazos allows you to defer your payments while you're in these programs the same as when you were in school.Parent loans not limited to dependents: As long as you meet eligibility requirements, you can take out a Brazos parent student loan to pay for just about anyone's education-even if they're not your dependent or if they live in another state.Available to DACA recipients and international students: If you're able to find an eligible co-signer, you can still qualify for Brazos student loans even if you're a DACA recipient or international student living in Texas. Even at the high end, Brazos has a lower maximum rate than many other lenders.
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