The Tennessee Student Assistance Corporation is the not-for-profit agency directed by the state to provide access to Tennessee Student Loans and programs with low interest and long term repayment options.

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Faced with the challenge of paying for college, many students in Tennessee are much less concerned with actually getting good grades than finding funding and financial aid to help soften the blow. While federal packages can help to lighten the load, they typically only cover a small fraction of the cost of tuition, leaving students to bear the heavy burden of the remainder. The Tennessee Student Assistance Corporation is the not-for-profit agency directed by the state to provide access to Tennessee Student Loans and programs with low interest and long term repayment options.

The TSAC partners with EdSouth/EdAmerica and EdFinancial to provide low cost loans for Tennessee students by funding Stafford and PLUS loans with tax exempt state educational bonds, as well as providing manageable alternative student loans. The organization also offers loan forgiveness programs for much needed professions, including teaching and nursing, when graduates agree to work in regions where the need for such individuals is greatest.

Because it is a not-for-profit agency, EdSouth can offer even lower interest rates than those that apply to special packages provided by private lenders, which claim to have low interest loans with a number of amenities. For example, the Xtra Credit Alternative Loan is configured especially for students needing additional financial resources beyond government offerings to help pay for college. It is offered to both undergraduates and graduates with a number of repayment options.

In order to apply for such Tennessee student loans, you'll need to submit to a credit check (meaning that most students, lacking any kind of credit history, will need a qualified cosigner). As long as you are a student, you need not be enrolled in a degree-seeking program, and credit limits may be as high as $100,000 for a four-year program. Repayment will come due after a six month grace period beyond graduation or completion of study, or at the time you decide to exit your school. This allows ample time for you to obtain a position in the workforce and begin repaying your loan. If you find that you are having difficulty with repayment, contact your loan officer immediately and see what can be done to assist you so that you do not affect your credit for the future.