At Blue Cross and Blue Shield of Vermont, our mission is to help you and your family live happier, healthier lives. Your financial wellness is an important part of your overall health and well-being, so we’ve partnered with GradFin to provide comprehensive student loan services to eligible Blue Cross members. Learn more about GradFin’s services below.
Student Loan Solutions
Brought to you by GradFin & Blue Cross and Blue Shield of Vermont
GradFin offers comprehensive solutions to help you and your family overcome the burden of student loan debt. GradFin is a student loan company that helps you find the best strategies to finance college and reduce debt, through loan refinancing and consolidation. With our free one-on-one expertise and 11 banking options, you can save thousands of dollars over the loan term. If you or anyone in your family has student loans and works at a 501(c)(3) non-profit organization, be sure to ask how GradFin can help with the Public Service Loan Forgiveness Program.
Products and Services
GradFin provides one-on-one education consultations regarding student loans. GradFin loan experts will analyze new and existing federal and/or private loans and provide options to help reduce student debt faster, simplifying the complexities of student loans.
Whether you are a student or a parent looking to pay for tuition, GradFin can help. GradFin takes the time to compare all your loan options. Each loan is different — federal subsidized and unsubsidized loans, parent plus and private loans. GradFin will help you identify and navigate these loans so you can choose the perfect plan.
Private loans are another option to help you pay for education. Private loans differ by lender and by type of loan. GradFin can help you understand the terms of your loan(s), and provide a better understanding of your loans and options for future and current private loans.
The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance of your federal Direct Loans after making 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying public service employer. The PSLF Program helps you manage student loan debt while pursuing a career in public service. It is available to many employees working in public service, including all levels of government, school districts, public hospitals, non-profit organizations, and more.
GradFin helps keep you in compliance with the PSLF Program. GradFin ensures payments are tracked and audited from application to approval.
Frequently Asked Questions
Our GradFin reps will discuss what information impacts the interest rate and how you can best be in the position to get the lowest rate from one of our 11 lenders. Every person has a different FICO score, income level, student loan balance, and current interest rate structure, and we walk you through the ways in which you can get the best new rates on your loans.
Our GradFin Rep will break down your loan situation, provide a chart on what your new loan payoff looks like, answer questions about what terms are the best for your particular situation, and answer any application questions that come up.
Federal student loans are loans issued by the federal government such as Direct Subsidized Loans, Direct Unsubsidized Loans, Direct Grad and Direct Parent Plus Loans. Federal loans contain many borrower subsidies and protections issued by the federal government. For example, Direct Subsidized Loans usually contain lower interest rates and the interest does not accrue during undergraduate studies. Federal loans also have very favorable forbearance protections which allow borrowers to temporarily suspend payments during official financial situations. Federal loans also have favorable forgiveness policies for borrowers that work for a non-profit or government institution. In addition, federal loans provide many different repayment plans: extended, standard, and income-driven repayment plans. The repayment plans are designed to allow borrowers to repay their loans in a way that benefits their financial situation.
Private loans are issued by private financial institutions and do not contain many of the same benefits that are enjoyed by federal loans. However, private lenders to have individual forbearance and deferment policies that are designed to help borrowers during financial hardship. Private loans can be suitable for borrowers looking to reduce their interest rates and usually result in lower interest payments when borrowers refinance their loans.
GradFin student loan consultants can help borrowers weigh the pros and cons of federal versus private loans and discuss the best repayment plans for federal and private loan.
We would love to set up a consultation with your parents, spouse, or other family members. In fact, many parents take out student loans for their children called Parent Plus Loans. These loans usually have higher interest rates. Please reach out to your GradFin rep to set up a consultation.
The Public Service Loan Forgiveness Program provides forgiveness on federal Direct student loans for borrowers that make 120 separate qualifying payments while employed full time by an eligible public service organization. An eligible public service organization is defined as a non-profit (501c3 tax-exempt organization) or a government entity (federal, state, local, or municipal organization).
The PSLF Program was passed into law in 2007 and encourages federal student loan borrowers to work in the public service sector. GradFin provides a membership program designed to help student loan borrowers stay in compliance with the complex filing rules and regulations. The Department of Education administers the PSLF laws and provides guidance on several issues related to the PSLF Program.
In March 2020, the federal government passed into law the CARES Act, which among many other things, provided for temporary relief of federal student loans. In general, the new law automatically suspended payments and interest rates for several months (March 13 through September 30). The CARES Act only impacted federally owned student loans such as Direct Subsidized, Unsubsidized, Grad Plus and Parent Plus loans. The CARES Act does not have any impact on private-held loans issued by private banks. The CARES Act allowed for PSLF borrowers to not make payments but still get credit for qualifying payments during the administrative forbearance period.
Phone Consultations
Please complete the form below then choose a 30-minute time slot with a GradFin Consultation Expert to find out how much you can save by refinancing your loans and through a restructured repayment plan. Our online scheduling is quick and the GradFin Consultation Expert will call you at the designated time.
