Product Overview

The Federal Student Loan product offered through First Horizon National Corporation is designed to provide eligible students and their families with the federal financing necessary to pursue higher education while benefiting from a nationwide network of customer support and responsible loan servicing. This product integrates federal loan program features with First Horizon’s commitment to clear communication, tailored repayment guidance, and access to tools that help borrowers manage their loan lifecycle from disbursement through repayment or forgiveness where applicable.

Key Features

• Federal program benefits: Offers eligibility for federal loan terms such as fixed interest rates set by Congress, deferment and forbearance options, income-driven repayment plans, and potential loan forgiveness programs for qualifying public service or teaching careers.
• Competitive fixed interest rates: Rates are set according to federal guidelines and made transparent at origination so borrowers understand the cost of borrowing over time.
• Deferred payment options: In-school deferment allows eligible students to postpone payments while enrolled at least half-time, with different rules for interest capitalization depending on loan type.
• Flexible repayment plans: Standard, graduated, extended, and income-driven repayment options are available to match monthly payments to each borrower’s financial circumstances.
• Consolidation options: Federal consolidation can simplify multiple federal loans into a single monthly payment under a Direct Consolidation Loan, potentially altering monthly payments or accessing alternative repayment plans.
• Robust borrower support: Dedicated servicing teams provide personalized counseling, repayment plan comparisons, and assistance with paperwork required for deferment, forbearance, or forgiveness applications.

Who Is Eligible

Eligibility aligns with federal student loan program requirements. Typical criteria include U.S. citizenship or eligible noncitizen status, enrollment at least half-time in an eligible degree or certificate program, satisfactory academic progress under institutional standards, and completion of the Free Application for Federal Student Aid (FAFSA) or the applicable federal application process. First Horizon’s enrollment and servicing teams can assist applicants in confirming eligibility, understanding award letters, and coordinating disbursements with educational institutions.

How It Works

The loan process begins with loan counseling and documentation necessary for federal loan origination. Once eligibility is verified and the loan is approved, funds are disbursed to the borrower’s educational institution to cover tuition, fees, and other authorized education-related costs. Borrowers receive clear disclosure statements outlining interest rates, origination fees if any, anticipated repayment schedule, and critical dates for repayment commencement. During the in-school period and any authorized grace period, borrowers receive guidance about repayment options and the implications of interest capitalization.

Repayment Options and Strategies

First Horizon provides support for selecting and managing repayment strategies that suit different financial situations:

• Standard Repayment: Fixed monthly payments over a defined term, typically designed to repay the loan in full within a set period.
• Graduated Repayment: Payments start lower and increase over time, useful for borrowers expecting income growth.
• Extended Repayment: Longer-term schedules that reduce monthly payments but may increase total interest paid.
• Income-Driven Repayment: Plans that adjust monthly payments based on income and family size, potentially offering loan forgiveness after a qualifying repayment period.

Borrowers can switch plans when their income or circumstances change. First Horizon’s advisors provide calculators and examples to illustrate how payment choices affect total cost and long-term financial goals.

Borrower Protections and Benefits

This federal loan product includes a range of borrower protections prescribed by federal regulation and supported by First Horizon’s proactive servicing:

• Deferment and Forbearance: Temporary relief options available for qualifying conditions such as economic hardship, unemployment, military service, or other eligible circumstances.
• Loan Forgiveness Opportunities: Potential eligibility for Public Service Loan Forgiveness, Teacher Loan Forgiveness, or forgiveness under income-driven plans for qualifying borrowers and employment situations.
• Interest Subsidy Options: Certain federal loans may provide interest subsidies while a borrower is in school or in deferment, reducing the accrual of interest during those periods.
• Repayment Assistance: Financial counseling, hardship evaluations, and step-by-step application assistance for relief programs.

Customer Service and Digital Tools

First Horizon supplements federal program offerings with modern servicing conveniences. Borrowers have access to secure online account management features to view balances, monitor repayment progress, enroll in autopay, request repayment plan changes, and receive electronic communications. Personalized support through phone or secure messaging helps resolve account questions, address billing issues, and coordinate administrative tasks such as documentation for deferment, forbearance, or forgiveness applications.

Why Choose This Loan

Choosing the Federal Student Loan through First Horizon National Corporation means combining the advantages of federal student loan programs with responsive customer service and practical tools designed to simplify repayment. The product emphasizes transparency, borrower education, and flexible options that adapt to evolving life and career stages. Whether financing undergraduate, graduate, or professional education, borrowers receive clarity about costs, consistent communication, and guidance to make informed decisions across the full loan lifecycle.

Getting Started

Prospective borrowers should begin by completing the federal application process required for federal student aid. Once eligibility determinations and award notifications are made by the educational institution, First Horizon’s enrollment representatives will outline next steps for loan acceptance, required documentation, and disbursement scheduling. Ongoing servicing includes periodic updates, repayment planning assistance near graduation, and access to resources that support financial well-being after school.