This University
Before you apply for a Private Loan, you should exhaust your eligibility for Federal loans (Stafford, PLUS, and Grad PLUS) as they are typically less expensive and offer flexible repayment options. Additionally, your eligibility for Private Loans will be reduced by your Federal grade level eligibility, even if you chose not to complete the FAFSA and apply for Federal loans.

The lenders listed below are set up to facilitate efficient, electronic processing and disbursement of funds directly to your student account. We provide this list as a guide to you; however, you are free to choose another lender without penalty.

Private Loan certification will be completed if all the following criteria are met:
  1. The student is degree seeking
  2. The student is enrolled at least half-time
  3. The loan is for the current semester/loan period or to satisfy past due balances for the previous semester only
  4. The loan disbursements are split for fall and spring semesters
  5. The student is meeting Satisfactory Academic Progress (SAP) as determined by the Financial Aid Office
If any of the previously mentioned criteria are not met, the student may apply for a Non-Certified Private Loan only. Additionally, if the lender selected is not on the school participating list, the non-certified option should be selected.

Private Loan processing time is 6 – 8 weeks


Lender
Loan Features
Select
Sallie Mae Smart Option Student Loan
888.272.5543
www.salliemae.com
Pricing that rewards good credit

Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate

The borrower may apply for cosigner release after successful completion of their education1

A 0.25 percentage point interest rate reduction is available for automatic debit2

A 0.25% percentage point interest rate reduction is available if the borrower provides a valid e-mail address and elects to receive all servicing communications via e-mail3

1,2,3 Visit www.SallieMae.com/SmartTerms for important information about these benefits.
Academic Answer®Loan
from SunTrust
800.552.3006
suntrusteducation.com/
academicanswer
No upfront fees1

Competitive interest rates starting as low as the 1-month LIBOR + 3.50%, currently 3.80% APR2

Graduation Reward- $300 Principal Reduction per loan with proof of graduation

0.25% interest rate reduction for enrolling in automatic payments3

Cosigner release option after 48 on-time payments4

Flexible Repayment Options: Immediate, Interest-only, and Deferred repayment while in school

Six-month grace period

Satisfactory Academic Progress not required

Generous repayment terms

Immediate credit decisions online

Forbearance options available
Wells Fargo Education Connection Loan
(Non-certified)
800.658.3567
www.wellsfargo.com/student
Non-Certified Loan: Loan funds directly to you (school does not process the loan)
Discover Private Education Loans
877.728.3030
www.discover.com
Variable interest rates from Prime minus 0.50% to Prime plus 4.75%, based on credit evaluation

2% Graduation Reward - 2% cash reward on outstanding principal balance at graduation

Zero origination fees

Zero default fees

Zero prepayment fees

Automatic Debit Reward - 0.25% interest rate reduction when enrolled in automatic payments

No payments while enrolled in school at least half-time

6 month grace period

Capitalization once, at repayment

Loans can be certified for balances incurred within last six months

Combined billing with federal loans available

Flexible repayment options available
Wells Fargo Collegiate®Loan
800.658.3567
www.wellsfargo.com/student
Interest rate: variable, based on Prime

Deferred payments: no payments are required while a student is in school and for up to six months after graduation or leaving school

Wells Fargo Student Graduation BenefitSM Program interest rate reduction of 0.50% at repayment upon verification of graduation. Unlike other repayment rewards, the Wells Fargo Student Graduation Benefit program is not affected by a late payment or if you return to school. Students keep the Wells Fargo Student Graduation Benefit Program reward as long as they do not consolidate their loans (effective for loans disbursed on or after July 1, 2008).

0.25% interest rate reduction at repayment when Wells Fargo automatically withdraws payments from a personal checking or savings account - discount is removed if automatic payments are cancelled (effective for loans guaranteed on or after July 1, 2008).

The automatic payment reward and the Wells Fargo Student Graduation Reward Benefit Program are entirely separate, so those that don’t graduate can still obtain an interest rate discount.

No origination, disbursement or repayment fees

Convenient online and phone application with instant credit decisions

Cosigner release after the first 24 consecutive monthly payments are received on time – minimum credit guidelines must be met at the time of the request

High quality of Wells Fargo servicing throughout a student’s borrowing experience.

Combined billing of Federal Stafford, Federal PLUS, and private loans

Free Wells Fargo College Checking® accounts, Online Banking, and Bill Pay.

One place for all your financial needs.

Wells Fargo retains the right to discontinue or modify our rewards for future disbursements at any time without notice.

For loans disbursed on or before June 30, 2008, call us at 1-800-658-3567 to get more information on your borrower rewards.
Chase Select private loan
866.306.0868
www.chaseselectloans.com
Zero origination fee

Zero repayment fee

Interest rates as low as 3-month LIBOR plus 3.65%

0.25% interest rate reduction for enrolling to have monthly payments automatically deducted from a bank account

0.25%interest rate reduction for choosing immediate or interest-only repayment option

Combine billing option for all education loans serviced by Chase

Cosigner release option available after 36 months Can be used to pay past due balances up to 12 months in arrears

No income requirements

No satisfactory academic progress requirements

Students need only be enrolled, no minimum requirements

1 A repayment finance charge may apply based on your or your cosigner's credit history.

2 LIBOR stands for London Interbank Offered Rate. The one-month LIBOR is the Current Index, as published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). Your variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your credit history and will increase or decrease if the one-month LIBOR index changes. Your variable interest rate is calculated by adding the current one-month LIBOR index (captured on the 25th day of each month, or the next business day thereafter, of the month immediately preceding such calendar month and rounded up to the nearest 1/8th of one percent) to your margin. The current one-month LIBOR index was 0.375% on 7/1/09. This APR example assumes a $10,000 undergraduate, cosigned, loan disbursed over two transactions with a deferment period of 45 months upon initial disbursement and a six month grace period upon graduation, a 25 year repayment term with no repayment finance charge, and a 3.50% margin. Margins can range from 3.00% to 10.75% (depending on whether you are an undergraduate or graduate student, if the loan is co-signed, and upon your or your cosigner's credit history) and repayment finance charges can range from 0% to 6% (depending upon your or your cosigner's credit history).

3 The 0.25% rate reduction is available to borrowers who arrange with their servicer to automatically deduct monthly payments from their personal bank account. Savings programs are effective for all loans disbursed on or after October 13, 2006.

4 The cosigner can be released from liability after the first 48 initial, consecutive principal and interest payments are made on time. Borrowers must meet credit guidelines at the time the cosigner release is requested.

Check with the lender for details and conditions regarding eligibility for special benefits or incentives.


The information on this Web page was gathered on behalf of the Financial Aid Office at This University and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.