School Lender List for Patrick Henry Community College

Patrick Henry Community College

Before you apply for a Private loan, you should first consider all aid alternatives including grants and scholarships.

The lenders listed on this Web page are frequently used by our Private Loan students. These lenders provide multiple benefits and an efficient application process. Additionally, they disburse funds electronically to Patrick Henry Community College, 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 as soon
as possible. Prior to choosing a lender, we encourage you to review all possible options. If you decide to choose a lender from this list, simply click on the corresponding "Apply Now" button to complete your Private Loan Application.

	Lender		Loan Features		Select

	Chase Education One Private Loan 866.661.7573 www.ChaseEd1.com/7573		Borrower Benefits 0.5% interest rate reduction available Cosigner release available Additional Benefits Funds sent directly to student Repayment can begin after graduation No financial aid forms or school certification required

	Wachovia Education Loan^sm 877.689.0763 www.wachovia.com		Borrower Benefits Interest rate reduction of -0.50% available with auto debit payments Students may apply alone or with a co-borrower Co-borrower release available after 48 on-time payments Finance current or past-due balances up to 3 years old (no current enrollment required) Additional Features Zero origination, guarantee, repayment, and co-signer fees Interest rate as low as the Prime Rate minus– 0.50% to Prime + 5% Borrow up to cost of education annually with no aggregate limit Repayment up to 25 years, depending on loan balance Make NO Payments with in school deferment up to 10 ½ years Interest capitalizes 6 months after graduation or 6 months after student leaves school No SAP required and can use for Non-Degree students Minimum loan amount $500

	Academic Answer^® Loan by SunTrust 800.552.3006 suntrusteducation.com/ academicanswer		Borrower Benefits Graduation Reward- $300 Principal Reduction per loan with proof of graduation 0.25% interest rate reduction for enrolling in automatic payments¹ May apply for cosigner release after making 48 consecutive on-time payments² Additional Features No up-front fees; repayment fees range from 0-4% and are based on credit history Interest rates range from One-month LIBOR Index + 2.50% to One-month LIBOR Index + 8.00%³ Satisfactory Academic Progress not required; Enrollment in degree or certificate program not required; at least half-time attendance required International students may apply with qualified US cosigner Borrow up to the total Cost of Attendance, minus other aid received up to an aggregrate of $225,000 (includes both undergraduate and graduate loan limits) Minimum loan amount is $1,001 Interest is capitalized once only while the loan is in deferment Flexible repayment options allows to choose between immediate repayment, deferring principal repayment, or deferring principal and interest repayment Six-month grace period after graduating or dropping below half-time enrollment Repayment period up to 20 years Forbearance options available after graduating or leaving school

	TERI 800.225.8374 www.teri.org		Borrower Benefits⁴ Borrowers can lower their interest rate by 0.25% by electing to have payments automatically deducted from a bank account.⁵ Once borrowers make the initial 48 payments on time and meet a creditworthiness test, the borrower may request that the cosigner be released from the loan. Applicants may borrow for past due balances. Additional Features Choose one of the (14) TERI Lender partners Apply via phone at 800.255.TERI or online at www.teri.org Student and/or creditworthy co-signer can apply Student borrowers are encouraged to apply with cosigners and often receive better pricing when they do Must be enrolled at least half-time in a degree or certificate program of study International students are eligible, but must apply with a U.S. citizen or permanent resident cosigner Borrower must be at least the age of majority at the time of the loan application (i.e., 18 years old, except 21 in Mississippi, and 19 in Alabama and Nebraska) or be at least 17 years old and apply with a qualified cosigner Loan Minimum is $1,000 Students may borrow up to the cost of education minus other aid (as certified by the school) No Aggregate limit Interest rates vary by participating lenders Fees as low as 0% Up to 25 years to repay your loan, depending on loan amount Up to 6 month grace period


	¹ 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. ²Borrowers must meet credit guidelines at the time the cosigner release is requested. ³LIBOR 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 business day of each month and rounded up to the nearest 1/8th of one percent) to your margin. The current one-month LIBOR index was 3.000% on 5/1/08. This APR example assumes a single disbursement transaction with a margin of 2.5% and no repayment fee. Margins can range from 2.5% to 8.0% and repayment fees can range from 0% to 4% both depending upon your or your cosigner's credit history. ⁴The lender and servicer reserve the right to modify, continue or discontinue borrower benefit programs at any time without notice. Call for details about current benefit offerings. ⁵The 0.25% rate reduction is available to borrowers who arrange with the loan servicer to automatically deduct monthly payments from their bank account. The interest rate reduction will begin when automatic principal and interest loan payments start, and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to contract rate if auto payments are cancelled, rejected or returned for any reason. 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 Patrick Henry Community College and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.