Introducing Hancock Bank's Newest Product ... The Hancock Grad PLUS Loan

Hancock Bank now offers the Grad PLUS Loan for graduate and professional students who need money for college expenses in addition to other financial aid. Grad PLUS Loans are not based on financial need and have a low fixed interest rate of 8.5% on loans with a first disbursement made on or after July 1, 2006.

Not all schools participate in this loan program - please check with your school to see if they are participating in the FFELP Grad PLUS Loan Program.

Important Facts about the Grad PLUS Loan:

• The loan is not based on financial need.
• A credit check is required to ensure the applicant does not have adverse credit history.
• The eligible loan amount cannot exceed the student's cost of attendance less other financial aid.
• Applicants must file the FAFSA annually after January 1 of each year.
• Applicants must apply for and the school must determine the student's eligibility for the maximum annual subsidized and/or unsubsidized Stafford Loan amount; however, the student is not required to receive a Stafford Loan as a condition of receiving a Grad PLUS loan.
• Repayment begins within 60 days after final disbursement of the loan; however, the loan may be deferred while the student is enrolled at least half-time.
• The borrower is responsible for interest which accrues on the loan from the date of the first disbursement; however, interest can be deferred.
  

Ready to apply?

1. Have you completed and submitted the FAFSA? If not, you may apply online.
2. Some colleges and universities require Grad PLUS Loan Pre-approval which involves a credit check. To complete this process, you may apply online or you may access a .pdf version of the document which you may print out, complete, and submit by mail.

If your school directs you to your lender to complete a Master Promissory Note (MPN), you may apply online and e-sign, if you wish, making sure to enter Hancock Bank - Lender ID# 806689 (Gulfport, MS 39502) as your preferred lender when completing your application information, or you may access a .pdf version of the document which you may print out and complete. Then, drop off your information at your local branch, or submit it by mail to:

Hancock Bank
Student Loan Division
P.O. Box Drawer 55909
Jackson, MS 39296-5909

Information subject to change without notice. Normal credit qualifications apply.