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
Citibank
Lender Code: 826878 800.967.2400
6.80
Default Fee: 0%
0.25% interest rate reduction when a borrower signs up for our auto-debit payment program and agrees to only receive statements electronically
0.25 percentage point interest rate reduction for auto-debit
1% Default fee
1% Origination fee
First Tennessee Bank
Lender Code: 810563 866.386.5641
6.80
0% Default fee
1% Origination fee
Life of Loan Servicing with EdFinancial Services
Convenient online repayment available
*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 6/9/08. Effective 7/1/09, an origination fee of 0.50% 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 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.
SunTrust Bank may sell your Stafford, PLUS or Grad PLUS Loan to the U.S. Department of Education or to another education loan provider. The interest rate and term of the loan will not change if your loan is sold.
SunTrust does not currently sell its Academic Answer private loans.
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.
