Saint Paul's College
Before you apply for a Private loan, you should first consider all aid alternatives including grants, scholarships and federal loans (Stafford, PLUS, and Grad PLUS).

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 Saint Paul's 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
Academic Answer® Loan
from SunTrust
800.552.3006
suntrusteducation.com
No upfront fees1

Competitive interest rates starting as low as the 1-month LIBOR + 2.50%2

Graduation Reward- $300 Principal Reduction per loan with proof of graduation

0.25% interest rate reduction for automatic withdrawals3

Cosigner release available4

Defer payments while in school

6 month grace period
Key Alternative Loan
800.539.5263
www.key.com/educate/alternative
No Loan Fees

Aggregate limit is $125,000 for combined undergrad and graduate

Variable Interest Rate - 3-month LIBOR plus 3.30% for cosigned loans and 3.85% for non-cosigned loans

Easy renewal process with Master Loan Note

No payment required while the student is enrolled at least half-time and during the six-month grace period, interest capitalizes at the time of repayment and after any period of forbearance

1 A repayment fee may apply based on credit history.

2LIBOR 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.

3 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.

4 The cosigner can be released from liability after the first 48 initial, consecutive payments are made on time. Borrowers must meet credit guidelines at the time the cosigner release is requested.

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 Saint Paul's College and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.