The lenders listed on this Web page are frequently used by our Stafford Loan borrowers. These lenders provide excellent benefits and an efficient application process. Additionally, they disburse funds electronically to Mount Carmel College of Nursing, which allows us to post funds directly to your account.
We provide this list as a guide to you; however, you are free to choose another lender without penalty. If you choose another lender, please inform us so that we may process your loan. If you are considering a lender from our list, we encourage you to look at all the lender information presented for each lender. If you decide to choose a lender from this list, click on the corresponding "Apply Now" button to complete your Federal Stafford Loan Master Promissory Note (MPN).
Lender Info
Fees
Special Ways You Can Save
Select
Edamerica
Lender Code: 834060 800.337.1009
0% Origination
25% interest rate reduction for auto-debit
1% rebate after first 12 (1-12) on-time payments
1% rebate after next 12 (13-24) on-time payments
Benefit repair option after 24 months of on-time payments
Citibank
Lender Code: 824756 800.967.2400
0% Origination
Receive an automatic 1.00% interest rate reduction at repayment and qualify for an additional 0.25% interest rate reduction when you sign up for auto-debit
Unlimited opportunities to earn your automatic rate reduction back if you ever miss a payment - You may regain the lost interest rate reductions by subsequently making 24 consecutive on-time monthly payments, anytime during the life of the loan
Chase Bank
Lender Code: 808856 800.487.4404
0% Origination
2% principal reduction or money back of the original amount borrowed after the first 48 consecutive monthly payments are made on time
0.25% interest rate reduction with automatic debit
Wachovia Education
Lender Code: 870005 800.338.2243
0% Origination
1% rebate of principal at repayment
1% rebate of principal after the first 12 on-time payments
1.5% rebate of principal after the first 24 on-time payments
(Automatic debit required to receive benefits)
Student Loan Xpress
Lender Code: 833890 866.759.7737
1.5% Origination
1% principal reduction at full disbursement
2% principal reduction upon graduation
3 months of payment relief upon graduation following grace period
5% principal reduction after 48 on-time payments
0.25% interest rate reduction with automatic debit
Key Bank
Lender Code: 813760 800.539.5363
0% Origination
3.75% principal reduction applied at repayment and retained if borrower makes 36 months of consecutive, on-time payments
0.25% interest rate reduction with automatic debit
Charter One
Lender Code: 808140 800.721.3969
0% Origination
0.25% interest rate reduction for automatic payment deductions from any bank account
3.30% principal credit or cash back for borrowers that make their first 33 consecutive payments on time and automate their account with the loan servicer
College Loan Corporation
Lender Code: 833733 888.972.0852
1.5% Origination
7% cash or credit rebate of the principal balance outstanding after 48 consecutive, on-time payments
0.25% interest rate reduction with automatic debit
Fifth Third Bank
Lender Code: 808780 800.972.3030
0% Origination
3.3% principal reduction after 33 on-time payments
SunTrust Education Loans
Lender Code: 811303 800.552.3006
1.5% Origination
0.25% Interest Rate Reduction with auto-debit from a checking or savings account1
National City Bank
Lender Code: 808877 800.622.5097
0% Origination
1% principal reduction after 36 consecutive, on-time payments, and an additional 1% reduction for every 12 month, consecutive on-time payment period up to 6 times
U.S. Bank
Lender Code: 816086 800.242.1200
0% Origination
5% credit of the original principal balance after 36 consecutive, monthly payments are made on time (on time is 20 days beyond the due date)
0.25% interest rate reduction with automatic debit
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.
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 Mount Carmel College of Nursing and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.
