The lenders listed on this site are frequently used by our PLUS Loan borrowers. These lenders provide excellent benefits and an efficient online process. Additionally, they disburse funds electronically to Austin Peay State University, which allows us to post funds directly to your child's account.
Austin Peay State University provides this list as a guide to you, and you are free to choose a lender not represented below. If you choose a lender not listed below, please inform us so that we may insure that your child's loan is processed in a timely manner.
If you are considering a lender from our list, we encourage you to look at all the lender information below, including the "Borrower Benefits". After you choose a lender, click on the "Sign Now" button to complete your Federal PLUS Loan Master Promissory Note (MPN). The MPN is a legal agreement you enter in with your chosen lender. To apply for the Parent PLUS Loan you must complete a FAFSA and be awarded by our office. Once awarded, you may apply through one of our recommended electronic lenders for approval/denial. See list below for lenders names and phone numbers. If the loan is approved, submit PLUS loan request sheet with confirmation of approval to our office. If the loan is denied, student may apply for additional unsubsidized loan funds. A copy of the PLUS denial must be attached to the Unsubsidized Loan Request Sheet.
Lender Info
Interest Rate
Borrower's Benefits
Select
Citibank
Lender Code: 826878 800.967.2400
8.50
Default Fee: 0%
0.25% interest rate reduction when you enroll in our auto-debit payment program
Borrow up to the full cost of education, less any financial aid received
Flexible repayment options
First Tennessee Bank
Lender Code: 810563 866.386.5641
8.50
0% default fee
Life of Loan Servicing with EdFinancial Services
Interest only or postponement of payment options available
Fast and easy online application process with instant credit decisions
0.25 percentage point interest rate reduction for auto-debit
Flexible repayment options are available
Postpone repayment while the beneficiary student remains enrolled at least half time and for an additional six months afterward
24/7 online account management with Manage Your Loans Interest may be tax-deductible
No income or asset requirements
Edamerica
Lender Code: 831453 800.337.1009
8.50
0% default fee.
0.25% interest rate reduction for auto-debit with continuous on-time payments.
Interest only or postponement of payment options available.
One point of contact for life of loan servicing.
20 years of expertise concentrating solely on student loans
Fast and easy online application with instant credit decision.
SunTrust Education Loans*
Lender Code: 810691 877.804.3603
8.50
0.25% Interest Rate Reduction with auto-debit from a checking or savings account1
24/7 student loan application and online account access
Flexible repayment options
*After your loans are fully disbursed and after a prescribed period of time, SunTrust Education Loans will sell your loan(s) to Nelnet. Your loan(s) will remain with Nelnet for servicing. SunTrust is not legally affiliated with Nelnet.
1 Savings programs effective for Parent PLUS loans first disbursed on or after June 9, 2008. An origination fee of 3% and a default fee of 1% will be calculated based on, and deducted from, each disbursement. Borrowers must make all payments as scheduled and maintain enrollment in automatic debit to keep the rate reduction in effect.
Brochures containing additional information on lenders are available in the Student Financial Aid Office.
You have the right to select any lender that participates in the Federal Family Education Loan Program (FFELP).
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 Austin Peay State University and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.
