Austin Peay State University
The lenders listed on this site are frequently used by our Stafford 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 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 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 Stafford Loan Master Promissory Note (MPN). The MPN is a legal agreement you enter in with your chosen lender. To apply for the Federal Stafford Loan you must complete a FAFSA and be awarded by our office. You will be directed to “accept” your offered Federal Stafford Loan(s) through AP Self-Service.

Lender Info
Interest
Rate
Borrower's Benefits
Select
US Bank
Lender Code: 811930
866.872.2878
6.80
1% credit of the original principal amount after the first 12 consecutive on-time monthly payments

0.25% rate reduction with auto debit
Citibank
Lender Code: 826878
800.967.2400
6.80
Effective January 1, 2008:

Default Fee: 0%

0.50% automatic interest rate reduction at repayment for all borrowers

0.25% interest rate reduction when a borrower signs up for our auto-debit payment program and agrees to only receive statements electronically

Unlimited benefit recovery - the 0.50% interest rate reduction is reinstated when a delinquent borrower makes 24 consecutive on-time monthly payments
SunTrust Education Loans*
Lender Code: 810691
877.804.3603
6.80
0.25% Interest Rate Reduction with auto-debit from a checking or savings account1
First Tennessee Bank
Lender Code: 810563
866.386.5641
6.80
0% default fee

Life of Loan Servicing with EdFinancial Services
Bank of America
Lender Code: 824421
800.344.8382
www.bankofamerica.com
6.80
0% Origination Fee
  • Bank of America will pay the government’s origination fee for you.
0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers
  • The rate reduction applies for the life of the loan. Once you earn the reduction, it’s yours!
  • For your convenience, Bank of America verifies that you have a checking or savings account. You do not need to provide documentation.
Edamerica
Lender Code: 831453
800.337.1009
6.80
0% default fee.

0.25% interest rate reduction with auto-debit.

One point of contact for life of loan servicing, Combined billing available.

20 years of expertise concentrating solely on student loans.

On-line repayment available for your convenience.
Regions Bank
Lender Code: 810612
800.858.7822
6.80
0.25 percentage point interest rate reduction for auto-debit
Chase
Lender Code: 803000
800.487.4404
www.ChaseStudentLoans.com
6.80
0.25 percentage point interest rate reduction for auto-debit

*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 Stafford loans first disbursed on or after June 9, 2008. An origination fee of 1.5% 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.