|
Private Student Loans
Private student loans are an excellent option for independent and dependent students alike. They are credit-based loans that can help you bridge the gap between your current financial aid and expenses. These loans typically offer deferred repayment; however, some do not. The approval and interest rate of your loan will be determined by your credit review. Therefore, it is important to be sure to apply with a creditworthy co-signer when applying for a loan as a dependent student. Be sure to utilize all federal loan options before applying for a private student loan. There are many student loan lenders that offer private student loans. Based on their quality of service and years of experience, we recommend the following three lenders and their private loans:
ChaseChase Select Student Loan Application
- No origination or repayment fees
- A 0.25% interest rate reduction for borrowers who have their monthly payments automatically deducted from a bank account
- Interest rates that recognize good credit
- Lower rates may be obtained by applying with a qualified cosigner
- Cosigner release option available after 36 on-time consecutive payments
- No payments required while in school
- Online application with conditional approval and e-signature
- Loans originated and serviced by Chase
- 24-hour online access to loan status information
- Flexible repayment options, including deferring all payments until after graduation with a six-month grace period
PNC PNC Solution Loan Application
- No origination or repayment fees
- Libor plus a margin ranging from 4% - 10.75% depending on creditworthiness of the borrower and the co-signer
- .25% interest rate reduction for auto debit from ANY bank
- Co-signer release available after making initial 48 payments on-time
- Available for past due balances
- Satisfactory Academic Progress not required
- Easy Online application
- E-signature available
- Life of loan servicing (combined with Federal Loans)
Sallie Mae Sallie Mae Smart Option Loan Application
- Pricing that rewards good credit
- Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
- The borrower may apply for cosigner release after successful completion of their education
- A 0.25 percentage point interest rate reduction is available when payments are made on your Sallie Mae Smart Option Student Loan by automatic debit
- Pay a little now, save a lot later by making interest-only payments while in school. Students complete their education with less debt and avoid capitalized interest.
- Unwavering commitment and stability for more than 35 years-we have helped over 30 million students realize their dream of a higher education
- Easy online application and 24/7 online account management
- Available for U.S. citizens in study abroad programs and U.S. citizens studying at medical schools outside the U.S.
- You may be able to deduct the interest you pay on a qualified student loan.
- Join Upromise® by Sallie Mae at Upromise.com, and you can use the rewards you earn on your everyday purchases to help automatically pay down your eligible Sallie Mae-serviced loans with Upromise Loan Link®
- Sallie Mae's Education Investment Planner® is a free, online tool that makes it easy to quickly estimate the total cost of college and find ways to save and pay for it
Wells Fargo Wells Fargo Collegiate Loan Application
Wells Fargo Education Connection Loan (Non-certified loan – does not get certified by institution and loan funds come directly to you)
- 0.50% interest rate reduction at repayment upon verification of graduation with the Wells Fargo Student Graduation BenefitSM Program
- 0.25% interest rate reduction at repayment when Wells Fargo automatically withdraws payments from a personal checking or savings account
- Cosigner release after making the first 24 consecutive on-time monthly payments
- Interest Rate Spread: Index + 1.00% to Index + 7.99%
- Deferred Payments: No payments are required while a student is in school (up to seven years) and for up to 6 months after graduation or leaving school
- The Index is equal to the Prime Rate. If the Prime Rate changes, it will change monthly on the first day of each month. However, the Index is subject to a contractual minimum of 3.25% (the Variable Floor Rate). Effective for loans first disbursed on/after July 16, 2009
- Convenient online and phone application with quick credit decisions
- Call our student loan specialists from 7:00 am to 10:00 pm Central Time for personal service on your student loan
Simply follow the loan application link above for more details on each loan and the instructions on applying. Once approved, be sure to notify us so that we may certify your loan and direct it to your student account. Remember, applying with a co-signer will increase the likelihood of your loan application being approved and your interest rate being lower.
< RETURN
|
