The lenders listed on this Web page are frequently used by our PLUS Loan borrowers. These lenders provide excellent benefits and an efficient application process. Additionally, they disburse funds electronically to Waynesburg University, which allows us to post funds directly to your child's 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 child's 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 PLUS Loan Master Promissory Note (MPN).
Effective July 1, 2008 for academic year 2008-2009:
Parent PLUS loans originated by Citizens Bank will be eligible to receive a 0.25 percentage point interest rate reduction by making payments using automatic debit. Repayment benefits are based on disbursement date.
5% principal reduction in repayment (1% each year for the first five years of the loan). This benefit does not run off if borrowers are late on payments.
Loan can be deferred up to 48 months while student is enrolled at least half-time
Free checking with points
Free Identity Theft Assistance
Single point of customer service for Life of Loan
Insured against death and disability
Grad Gold & U-Promise participation – reduces loan balances
0.25% Interest Rate Reduction for auto debit payments
Parent PLUS Loan borrowers having trouble making payments can request that their loan payments be postponed for up to five years, including while their student is enrolled in school2
Life of loan servicing (combined with private loans)
Easy on-line application
E-signature available
“Live” customer service representative is available
Participates in the Grad Gold student loan rebate program
1 Savings programs effective for Parent PLUS loans first disbursed on or after 7/1/08. An origination fee of 3% 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.
2 Interest will accrue during each approved 12-month forbearance period and will be capitalized (added to the loan balance) at the end of each forbearance period. Borrowers must meet certain eligibility requirements in order to request forbearance.
3 The federal default fee will be waived if the participating guarantee agency selected by the lender will pay the fee.
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 Waynesburg University and is believed to be correct as of this posting, but this information is not warranted and is subject to change without notice.
