Trevecca Nazarene University
Listed below are lenders frequently used by our students for Private student loans. Private loans should only be considered once all federal loan options have been utilized. Private loans are not part of the federal aid program and are not eligible for consolidation with federal loans. These loans are credit based and have a variable interest rate. In some cases a credit worthy co-signor may be required to qualify.

These lenders traditionally provide excellent service to our students, using state-of-the-art online and electronic processes. Additionally, they disburse funds electronically to Trevecca, which is a more efficient manner of delivery. Trevecca derives no benefit from, nor participates in any revenue-sharing agreements with, the lenders below. The University provides this list as a service to our students, and Trevecca students 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 our electronic processes are set up for that lender. We encourage you to read the Trevecca Lender List Policy that is available on our Financial Aid homepage.

We encourage you to look at all the lender information below, including the "Borrower Benefits," so that you make a choice that is best for you. After you choose a lender, click on the "Apply Now" button, and complete your loan application online.

If you have any questions, please contact the Trevecca Financial Aid Office.

Lender
Loan Features
Select
Academic Answer®Loan
from SunTrust
800.552.3006
suntrusteducation.com/
academicanswer
No upfront fees1

Competitive interest rates starting as low as the 1-month LIBOR + 2.50%, currently 4.5326% APR2

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
Chase Select from Chase
866.306.0868
www.chaseselectloans.com
Zero Fees

Interest Rates as low as prime minus 1%

0.25% interest rate reduction for auto-debit

Defer payments while in school

Less than half-time, half-time and full time enrollment

Co-signer release available

6 month grace period
CitiAssist from Citibank
800.967.2400
studentloan.com
No fees

Interest rate as low as Prime - 0.5%

Interest rate reduction of 0.50% after 48 months of consecutive on-time payments

Interest rate reduction of 0.25% for auto-debit payment Co-signer release option available

May be enrolled less than half-time

6 month grace period
Regions Signature Loan
800.858.7822
customschool.com/trevecca/regions
Interest rate as low as LIBOR plus 2.50%

0% disursement fees

0.50 interest rate reduction with auto-debit

Co-signer release available

Loan may be used to cover prior-year balances

International students are eligible with a U.S. citizen or non-citizen permanent resident co-signer

6 month grace period

1 A repayment finance charge may apply based on your or your cosigner's credit history.

2 LIBOR 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 2.500% on 6/1/08. This APR example assumes a $10,000 undergraduate, cosigned, loan disbursed over two transactions with a deferment period of 45 months upon initial disbursement and a six month grace period upon graduation, a 25 year repayment term with no repayment finance charge, and a 2.50% margin. Margins can range from 2% to 8% (depending whether you are an undergraduate or graduate, if the loan is co-signed and upon your or your cosigner's credit history) and repayment finance charges can range from 0% to 5.5% (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 principal and interest payments are made on time. Borrowers must meet credit guidelines at the time the cosigner release is requested.

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 Trevecca Nazarene University and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.