Alternative lender list 10-11 by sjw10767

VIEWS: 38 PAGES: 2

									Alternative Loan Options 2 0 1 0 / 2 0 1 1
CCNE will process a loan from any lender, and it is your right to apply for loans through the lender of your choice without penalty. CCNE highly encourages students to apply with a co-signer. We make
the following recommendations of alternative student loans, although you are in no way limited to the suggested lenders and programs on this list:

     Loan Program                 Interest Rate               Fees               Repayment Term                                Borrower Benefits and Conditions of Repayment
                                Without cosigner -
                                Variable (based on                                                          Loan minimum $500 and annual maximum limit is the cost of attendance minus aid. Aggregate
                                                                                  Up to 20 years for
                                 LIBOR and credit                                                           loan limit includes all student loan debt $120,000 for undergraduate students. 0.25% interest
                                                                              amounts less than $30,000
                              evaluation): 1-month                                                          rate reduction of enrolled in auto deduction from a bank account. Cosigner release is available
                                                         Origination fee:         Up to 25 years for
    Chase Select Private        LIBOR +5.7% With                                                            after the borrower makes any 36 consecutive monthly on-time payments of principal and
                                                         0% Repayment          amounts over $30,000. 3
      Student Loan               cosigner Variable                                                          interest, at anytime after repayment begins. The cosigner release must be a request by the
                                                             fee: 0%            repayment terms can
                              (based on LIBOR and                                                           borrower and the borrower must pass applicable cosigner release underwriting requirements at
                                                                                repay 6 months after
                               credit evaluation): 1-                                                       the time of the request. Contact Info: PHONE: 1-866-306-0868 EMAIL:
                                                                                 student graduates.
                             monh LIBOR +3.5% to 1                                                          studentloans@chase.com WEBSITE: www.chaseselectloans.com
                                month LIBOR + 6%

                                                                                   Up to 15 years;
                                                                                 Repayment begins 6         Student loan lender who provides life-of loan servicing, Can borrow for a loan period while
                               Variable (based on
                                                                                months after student        enrolled less than 6 credits, $1,000 minimum loan amount; Undergraduate aggregate limit is
   Citibank CitiAssist          LIBOR and credit        Origination fee: 0-
                                                                              graduates or during grace     $75,000; 0.25% interest rate reduction for auto-debit; Co-signer release option after 24
  Undergraduate Student         history): 3-month        3% Repayment
                                                                                 period without any         consecutive on-time payments and credit approval; No penalty for early repayment. Contact
          Loan                 LIBOR + 4.75% to 3-           fee: 0%
                                                                              penalty for repayment (10     Info: PHONE: 1-800-STUDENT EMAIL: student.loans@citi.com WEBSITE:
                              month LIBOR + 11.5%
                                                                              year Maximum in -school       www.studentloan.com
                                                                                     deferment)

                                Without cosigner -                              Up to 15 years Students
                                Variable (based on                                can choose to begin
                                 LIBOR and credit                              repayment immediately;
                               evaluation): 1-month                              however they have the      Citizens allow a 0.50% interest rate reduction for borrowers who elect to auto debit from an
                              LIBOR +3 to 1 month        Origination fee:      option to defer principal    eligible Citizens Bank account. The borrower may apply for cosigner release after making their
   Citizens Bank TruFit
                                LIBOR + 13% With         0% Repayment             and interest or defer     first 36 consecutive payments on-time. The borrower must meet credit guidelines at the time of
       Student Loan
                                 cosigner Variable           fee: 0%          principal and pay interest.   application for release. Contact Info: PHONE: 1-800-708-6684 EMAIL:
                              (based on LIBOR and                               Repayment can begin 6       educationfinance@citizensbank.com WEBSITE: www.citizensbank.com/edu
                               credit evaluation): 1-                          months after graduation.
                              monh LIBOR +3.% to 1                               In-school deferment is
                             month LIBOR + 11.25%                                  capped at 8 years.
                               Variable (Two credit                           Up to 25 years There is an
                                tiers and based on                              automatic principal and
                                 LIBOR and credit                              interest deferment while
                               evaluation): 3-month     Origination fee: 4-    in school. 6 month grace     Automatic deferment of interest and principal payments while in school, no prepayment
  Edamerica Xtra Credit
                                LIBOR +5.5% to 6%        5% Repayment               period following        penalty, ability to pay past due balances, life-of-the-loan servicing. Contact info: PHONE: 1-
         Loan
                               with Excellent credit         fee: 0%           graduation or separation     800-337-1009 EMAIL:CustomerService@edamerica.net WEBSITE: www.edamerica.net
                             (Borrower > 679 and Co                            from school. Deferment
                               borrower >759) The                                   and Forbearance
                                interest cap is 21%                                    available.


                                                                Updated by Chester College of New England 3/24/2010
Alternative Loan Options 2 0 1 0 / 2 0 1 1
CCNE will process a loan from any lender, and it is your right to apply for loans through the lender of your choice without penalty. CCNE highly encourages students to apply with a co-signer. We make
the following recommendations of alternative student loans, although you are in no way limited to the suggested lenders and programs on this list:
     Loan Program                 Interest Rate               Fees              Repayment Term                                 Borrower Benefits and Conditions of Repayment
                                                                                  Up to 20 years/$25
                               Variable (based on                                 minimum monthly
                                                                                                            Annual loan limit $1,000 up to the lesser of cost less aid. 0.25% interest rate reduction when
                                LIBOR and credit        Origination fee 0-         payment. Flexible
  PNC Solution Loan for                                                                                     borrower elects to auto debit. Cosigner release option available after 24 months of consecutive
                              evaluation): 1-month       6% Repayment               payment options
 Undergraduate Students                                                                                     on-time payments, subject to credit approval. Contact Info: PHONE: 1-800-762-1001
                             LIBOR +4% to 1 month            fee: 0%          immediate, interest only,
                                                                                                            WEBSITE: www.eduloans.pncbank.com
                                LIBOR + 10.75%                                or deferred principal and
                                                                                         interest.
                                                                             The Smart Option Student
                                Without cosigner -
                                                                              Loan is designed to help
                                Variable (based on
                                                                                shorten the amount of
                                 LIBOR and credit        Origination fee
                                                                             time it takes to pay off the
                              evaluation): 1-month       (with cosigner):
                                                                                  loan. The standard
                             LIBOR +4% to 1 month        0% Origination                                     0.25% interest rate reduction for automatic debit. A 2% reward in borrower's Upromise account
 Sallie Mae Smart Option                                                      repayment term is based
                              LIBOR + 12.5% With           fee (without                                     each month just for making on-time payments. Contact Info: PHONE: 1-888-272-5543
       Student Loan                                                                   on cumulative
                                 cosigner Variable        cosigner) 3%                                      WEBSITE: www.salliemae.com
                                                                               outstanding SM service
                              (based on LIBOR and        Repayment fee:
                                                                             private loan balances and
                               credit evaluation): 1-           0%
                                                                                    grade level. The
                             monh LIBOR +4% to 1
                                                                               repayment term ranges
                               month LIBOR + 12%
                                                                                    from 5 to 15 yrs.
                                                                                  Flexible repayment
                                Without cosigner -       Origination fee:     options include deferred
                                Variable (based on       0% Repayment            principal and interest,
                                 LIBOR and credit       fee: 0% Late fees            interest-only or       Graduation reward $300 principal reduction per loan at graduation (when a borrower takes out
                               evaluation): 1-month        (assessed per        immediate repayment.        on Academic Answer loan each year for four years, they receive a $1,200 principal reduction
                             LIBOR +6% to 1 month           month upon            Repayment begins 6        with proof of graduation.) Proof of graduation must be submitted to Sun Trust within 90 days
    SunTrust Academic
                              LIBOR + 10.66% With          repayment if       months after graduating,      of graduation. 0.25% interest rate reduction for auto debit, Cosigner release option available
      Answer Loan
                                 cosigner Variable           scheduled       withdrawing or dropping        upon request after initial 48 consecutive on time principal and interest payments- student must
                              (based on LIBOR and          payment not         below half time, Term is     meet criteria at time of decision. Contact Info: PHONE: 1-866-763-6350 EMAIL:
                               credit evaluation): 1-    received within           up to 15 years, no       aessuntr@aessuccess.org WEBSITE: www.suntrusteducation.com/academicanswer
                             monh LIBOR +4.13% to         10 days of due      prepayment penalty, and
                             1 month LIBOR + 9.80%             date).             forbearance option
                                                                                        available.
                                Variable (based on
                              Index which is equal to
                                                                                Up to 15 years.             Allows students to borrow up to cost of attendance (minus other financial aid received) with
                                   Prime with a         Disbursement fee:
  Wells Fargo Collegiate                                                      Repayment begins 6            $120,000 aggregate loan limit (including all other educational debt). The minimum loan amount
                             contractual minimum of      0% Repayment
          Loan                                                               months after graduating        is $1,000. With repayment incentives students can reduce interest up to 0.75%. Contact Info:
                                 3.25% and credit           fee: 0%
                                                                               or leaving school.           PHONE: 1-800-658-3567 WEBSITE: www.wellsfargo.com/student/undergrad/
                             history): Index + 1% to
                                      7.99%


                                                                Updated by Chester College of New England 3/24/2010

								
To top