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Student Loans

Be a financial genius — consolidate your student loans with First South!

You made a smart decision to further your education — now make another smart decision with your student loans. First south can help you to consolidate your student loans into one. This can save you up to 50% of your monthly payments if you are making multiple payments to multiple lenders. Our consolidation loans offer you:

A great low rate
A regular payment schedule
Convenience — you make one payment to one lender
No application or processing fees
An extended repayment period based on your total educational loan debt

If you have student loans from two or more lenders, you can choose First South as your consolidation lender.

To find out more about how we can help you consolidate your student loans, see the FAQ section below, give us a call at 901.380.7373 or stop by any one of our 13 locations (click here to see a listing of our banking centers).

Click here to access the Federal Consolidation Loan Information Guide. It will provide you with answers to commonly asked questions and other resources and links for more detailed information.

Ready to consolidate? Click here to access the Federal Consolidation Loan Application and
Promissory Note.

These forms are Adobe Acrobat Portable Document Format (PDF) files. You will need to download the free Adobe Acrobat reader to access them.

First South is pleased to announce that we now offer both Stafford and PLUS loans through a partnership with CUNA Mutual and Great Lakes. And with rates at all time lows, now is a good time to get your education without having to pay a lot for it! Here are the steps you need to take to apply for a
student loan:

Complete the Free Application for Federal Student Aid (FAFSA). A FAFSA can be obtained from the high school guidance counselor, the college financial aid office, or from the Department of Education’s Web site.
A Student Aid Report will be created once the FAFSA has been processed.
An award letter from the school will notify you of your financial aid award for the coming academic year, and possibly accompany the Master Promissory Note (MPN) for the Stafford Loan. Although the award letter may include a preferred lender list, you have the right to choose First South. Just click here to access the MPN with our lender information already completed for you! It is a fillable Adobe Acrobat PDF file, so you can key in your information as well!
The completed MPN should be returned to First South.
If your financial aid is not sufficient to cover the costs or if you didn’t qualify for a Stafford loan, your parent or stepparent can apply for a PLUS Loan. Just click here for the application. This is also a fillable Adobe Acrobat PDF file.
Loans are disbursed in two or more payments on dates established by the school. The funds are sent directly to the school.

Already have Student Loans? Then come talk to us about consolidating your Student Loans with First South! Need more information? These documents and links can help you on your way!

Free Application for Federal Student Aid
Quick Reference Guide
Federal Stafford Loan Application
Federal PLUS Loan Application

Great Lakes Educational Loan Services — get useful information about Student Loans, try out the Loan Calculators, and securely view your loan or get useful contact information through IBIS. If you have questions regarding the loan process, please call Great Lakes at 1.800.366.0032. You may also e-mail them at loanproc@mygreatlakes.com.

Eula Brown Memorial Scholarship Competition

First South offers the Eula Brown Memorial Scholarship Competition.

Amount of Scholarship: $1,000
Number of Scholarships Awarded: One
The scholarship competition is open to University of Memphis applicants and students.

The application process starts in mid-April of each year and concludes at the end of May. We will award our next scholarship in 2008.

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