Updated: July 6, 2021

Brazos Parent Student Loan Review

Brazos Parent Loan

The bottom line:

The Brazos Parent Loan ranks roughly average among all parent loans. On the one hand, they are remarkably flexible when it comes to qualification standards. They will cover up to 100% of your student’s annual Cost of Attendance, don’t have an aggregate loan limit, allow any immediate family member to borrow on behalf of the student, and their loan is available to students who are not U.S. citizens or permanent residents. 

On the other hand, some of their qualification requirements are onerous. They only lend to borrowers with a 720 or better credit score and with an annual income that exceeds $60,000. They also require the student to maintain Satisfactory Academic Progress. When it comes to repayment, don’t expect a cosigner release option.

Most importantly, this loan is only available to Texas residents.

Pros

Rewards: Autopay Discount, Referral Rewards Program

Yearly Loan Limits: 100% Cost of Attendance

Overall Loan Limits: $1,000 (minimum), No aggregate maximum

Cosigner Terms: Cosigner optional, does not offer Cosigner Release

Cons

  • Does not offer cosigner release
  • Only available to Texas residents
  • Requires a annual income of $60,000 or more
Advertising disclosure

Restricted to Texas residents

Parents
Student Loan Rating
4 of 5
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.95% - 5.65%
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
0.94% - 5.54%
Repayment Terms
5 years, 7 years, 10 years, 15 years, 20 years
Important Information

Rewards: Autopay Discount, Referral Rewards Program

Yearly Loan Limits: 100% Cost of Attendance

Overall Loan Limits: $1,000 (minimum), No aggregate maximum

Cosigner Terms: Cosigner optional, does not offer Cosigner Release

Other Loans that Brazos Education Lending Corporation Offers:

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  • Covers up to 100% of yearly Cost of Attendance
  • Offers an autopay discount and referral rewards program
  • Available to international students and parents (provided you have a U.S. citizen or permanent resident cosigner)

Brazos Education Lending Corporation - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Soft to check rates, hard to process application
  • Repayment Terms: 5 years, 7 years, 10 years, 15 years, 20 years
  • Minimum Borrowing Limit: $1,000
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: 720
  • Minimum Anual Income: $60,000
  • Citizenship Restriction: Available to Citizens, Permanent Residents, and International Students with a credit-worthy Citizen or Permanent Resident cosigner
  • Minimum Enrollment Restriction: Half-Time
  • Approved Schools Include: Title IV + Non-Profit
Repayment Options
  • Immediate Principal and Interest Repayment: Yes
  • Interest-Only Repayment: Yes
Repayment Details
  • Maximum Deferment Period: 12 months
  • Maximum Forbearance Period: 12 months
  • Death Discharge: Yes
Customer Service
Extras
Brazos Education Lending Corporation Alaska Commission on Postsecondary Education (ACPE) Discover Student Loans
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Fixed:
2.95% - 5.65%
Variable:
0.94% - 5.54%
Fixed:
5.75% - 6.00%
Variable:
Not Available
Fixed:
5.49% - 13.99%
Variable:
3.99% - 12.99%
Loan repayment terms (Years) 5 years, 7 years, 10 years, 15 years, 20 years 10 years, 15 years 15 years
Cosigner release? None None