The college tuition fee in the USA has been increasing for the last few years and this increases the gap between funding and attending college. That’s where Paras Education Services shores the difference. Paras Education Services’ US Dollar loans enable you to get a loan for your tuition fees, meals, accommodation and other living and stationery expenses. Moreover, they are collateral free and with interest rate starting from as low as 4%. Not just that, we have a plethora of rewards which will be useful towards your repayment.

Terms and Conditions apply. Contact Paras Education Team to know if you are applicable for these rewards.

1.Rewards for Good Grades:


We provide our students with additional and amazing cashbacks and rewards for performing well in their academics. This not only helps in your repayments but also encourages you to take your grades seriously. Once 6 months after your academic term has ended, and if you have worked hard for your grades and able to achieve the targets, you can simply get 1% of the loan amount as a cash reward.

Reward Eligibility
You will be eligible to receive a 1% cash reward if:
1) You submitted an application for a Paras Education Services’ Undergraduate, Health Professions, Law, MBA or Graduate Loan on or after May 1, 2014 and received the loan.
2) Your Grade Point Average (GPA) for any academic term covered by the loan is at least a 3.0 (or equivalent). 
3) You have not already redeemed the reward for the eligible student loan.
4) You log in to your secure account to redeem your reward within 6 months after the academic term covered by the loan has ended, or six months after the loan's final disbursement; whichever is later. Please note: If the loan covers multiple academic terms, you may only redeem your reward after the end of the final academic term covered by the loan.
5) There are no pending disbursements on your eligible student loan.
6) You will be eligible for only one reward for each new Paras Education Services’ student loan.

Reward Amount
The reward amount is a 1% cash reward of the disbursed principal balance on your student loan. It is your responsibility to notify us if you do not receive an expected 1% cash reward, once you complete and submit the redemption form.
A reward may be considered taxable income. We recommend you consult a tax professional for tax advice.

Changes to These Terms and Conditions
These Terms and Conditions are subject to change with notice. We may change them at any time including, but not limited to, changing the redemption methods or imposing additional conditions.

2.0.25% Auto Debit Reward (ADR)


We will apply the Auto Debit Reward by reducing your interest rate by 0.25%. This may change the amount of your minimum monthly payment, may change the total number of payments necessary to pay off your loan and may change the amount of your final payment.

Terms and Conditions:
You will be eligible to receive the Auto Debit Reward if you meet all of the following conditions:
All loans in the account must be current. You are not eligible for ADR if you have loans in forbearance, delinquency and/or default or charge-off statuses or loans in reduced repayment programs. Existing Auto Debit enrollments will be cancelled if loans in the account enter those statuses and programs mentioned above.

In-school Interest-Only Repayment. You will be eligible for the Auto Debit Reward while you are enrolled in the Auto Debit payment program for at least the agreed in-school interest payment amount during any in-school and grace periods. Full principal and interest payments will be debited when the loan enters the Repayment Period.

In-school Fixed Repayment. You will be eligible for the Auto Debit Reward while you are enrolled in the Auto Debit payment program for at least the agreed in-school $25 fixed payment amount during any in-school and grace periods. Full principal and interest payments will be debited when the loan enters the Repayment Period.

Fixed Payments During Deferment. You can retain or request the Auto Debit Reward during deferment periods and authorizing automatic payments for the Minimum Payment Due + fixed amount. During deferment, the Minimum Payment Due will be zero (no payment is due), but the fixed amount will be debited. Full principal and interest payments and your stated fixed amount will be debited when your deferment ends, unless you cancel your automatic payments.

Full Principal and Interest Payments during the Repayment Period.

You can request the Auto Debit Reward during the Repayment Period and authorizing automatic payments for at least the Minimum Payment Due amount. You also have the option of adding a fixed amount, above and beyond the Minimum Payment Due amount to be debited each month. You are not eligible for ADR, if your monthly debited payment amount is $0.00.
It is your responsibility to notify us if you believe the Auto Debit Reward has not been applied correctly. Your Auto Debit Reward cannot be doubled, even if the borrower and cosigner are both enrolled in the Auto Debit payment program.

Changes to These Terms and Conditions
These Terms and Conditions are subject to change without notice. We may change them at any time including, but not limited to, changing the eligibility criteria or imposing additional conditions.

Please speak with a Paras Education representative for more details on the auto debit enrollment.

Not all loans come with money-saving benefits such as interest rate reductions for automatic debit payments or other simple and up-front reward programs that can end up saving your money. Isn’t that a good enough reason to enroll with Paras Education Services?