Below is a list of lenders that offer loans to students to help supplement educational costs not covered by Federal Financial Aid. Compare the benefits as described by each lender and find the best fit for you, even if you do not have a banking relationship with that lender. The Alternative Loan allows you to borrow additional aid after you have reached your Federal Stafford Loan limit. These types of student loans are designed to help you meet the total cost of higher education.
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Lender Information
Borrower Benefits & Customer Service
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Benefits
Wells Fargo Collegiate® Loan 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 - discount is removed if automatic payments are cancelled Loan has no origination, disbursement, or repayment fees. Cosigner release after the first 24 consecutive on-time monthly payments. Prime + (0% to 5.99%)
Services
Combined billing of Federal Stafford, Federal PLUS, and private loans. One place for all your financial needs. Wells Fargo offers banking products and services, such as the College Combo®, a suite of banking accounts and services designed for college students. With Wells Fargo, you’ll get high quality service throughout your borrowing experience. Wells Fargo reserves the right to discontinue or modify our rewards for future disbursements at any time without notice.
Benefits
As low as Prime minus 0.50%, based on credit rating and co-signer presence Grace period 6 months; forbearance also available Up to 20 year repayment 0.25% Citibank E-Z Pay interest rate reduction for borrowers who have payments automatically deducted from a bank account Additional 0.50% interest rate reduction with CitiExtras Savings when you make your first 48 consecutive monthly payments on time Can cover balances within past 12 months Co-signer release after 48 consecutive on-time payments
Services
No origination fees No minimum; annual limit cost of attendance less financial aid International students may apply
Benefits
No minimum income requirement and no payments required while in school1 Applying with a creditworthy cosigner may help applicants qualify
Services
Unwavering commitment and stability for more than 35 years—we have helped over 21 million students realize their dream of a higher education Easily manage payments for multiple Sallie Mae-serviced student loans on one bill with combined billing Sallie Mae offers products and services that support positive repayment habits Join Upromise at www.upromise.com SM 2 1 2 Visit www.SallieMae.com/ELMPrivate
Benefits
Interest Rate: As low as Prime minus 0.50% Loan Amounts: $500 minimum, maximum cost of attendance less aid Grace Period: 6 months Up to 25 years to repay depending on loan balance 0.25% interest rate reduction for signing up to have principal and interest payments made directly from a bank account 0.25% interest rate reduction for choosing immediate or interest-only repayment options Can be used to cover previous school balances up to 12 months in the past Co-signer release opportunity after 36 consecutive on-time payments of principal and interest anytime after repayment begins
Services
Fees: No origination or repayment fees May be enrolled full-time, half-time or less than half-time
Benefits
Minimum loan amount of $1,000
Services
Varies based on originating lender Enrolled at least half-time Maximum loan COA minus other financial aid Varies based on originating lender
Benefits
MedCAP® Alternative Loan for Health Professionals 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 Loan has no origination, disbursement, or repayment fees. Cosigner release after the first 24 consecutive on-time monthly payments. Prime + (0% to 2.50%)
Services
Combined billing of Federal Stafford, Federal PLUS, and private loans. One place for all your financial needs. Wells Fargo offers banking products and services, such as the College Combo®, a suite of banking accounts and services designed for college students. With Wells Fargo, you’ll get high quality service throughout your borrowing experience. Most students can qualify for this loan on their own, without a cosigner. Wells Fargo reserves the right to discontinue or modify our rewards for future disbursements at any time without notice.
Benefits
No fees and up to 8.00% for GAP loan Prime + 0.00% - 3.95% Grace period 6 months Minimum loan $1000, maximum is cost of attendance minus aid 15 year repayment 0.50% interest rate reduction for auto-debit Cover balances up to previous 6 months
Services
International students are eligible with U.S. co-signer
Benefits
No minimum income requirement and no payments required while in school1 Applying with a creditworthy cosigner may help applicants qualify
Services
Unwavering commitment and stability for more than 35 years—we have helped over 21 million students realize their dream of a higher education Easily manage payments for multiple Sallie Mae-serviced student loans on one bill with combined billing Sallie Mae offers products and services that support positive repayment habits Join Upromise at www.upromise.com SM 2 12 Visit www.SallieMae.com/ELMPrivate
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ELMSelect is hosted and maintained by ELM Resources to provide student and parent borrowers with information supporting their ability to choose the educational lender of their choice.
Information on this site regarding educational loans has been provided exclusively through institutions of higher education (“schools”) that have elected to post their preferred lender lists on this site. ELM Resources is not involved in any way with the endorsement of lenders or specific loan products of educational institutions and does not receive compensation as a result of a lender being placed on a preferred lender list or a school using ELMSelect as a means of providing loan information to students.
ELM Resources is not responsible for the accuracy of the information available through ELMSelect. Students and parents are encouraged to contact lenders to confirm the accuracy of the loan terms posted on the site. Students and parents are also reminded of the right of borrowers seeking loans through the Federal Family Education Loan Program to choose their lender and that the choice of a lender is not in any way limited to the lenders on a school’s preferred lender list. Additionally, if a borrower chooses another lender, they will suffer no penalty for selecting their lender of choice.
ELM Resources notes that additional information on student loans is available from the U.S. Department of Education on a variety of sites including www.studentaid.ed.gov and www.mymoney.gov . Useful information on financial literacy may be found at http://www.mymoney.gov/ , a website maintained by the U.S. Financial Literacy and Education Commission. For New York schools, additional information can be found at http://www.oag.state.ny.us/family/student_lending/information.html .
ELM Resources welcomes comments on ELMSelect. Comments may be sent to: info@elmresources.com .
