Alternative Loan Recommended Lender List

wells fargo Wells Fargo Collegiate Private Loan
as serviced by Wells Fargo Education Financial Services
Lender Code
807176 
  Contact Information
Phone: 1.800.378.5526
Website: http://www.wellsfargo.com/student

Loan Comparison Information

  • Choose your rate type — Choose from a competitive fixed or variable interest rate.
  • Eligibility Requirements: Students must be enrolled full-time, half-time, or less than half-time, and seeking a degree, certificate, or license.
  • Cosigner: Most undergraduate students will need a cosigner to meet our credit history, income and employment requirements.
  • Cosigner Requirements: Adult who meets citizenship requirements and has established good credit history and steady income.
  • Cosigner Release: After the first 24 consecutive monthly payments are on time and borrower meets credit requirements.
  • Fees: No application, origination, or early repayment fees.
  • Borrower Benefits: Borrower and Cosigner applicants can receive a relationship pricing discount at the time of application.
    • Wells Fargo PMA Package - 0.50% discount.
    • Qualifying Wells Fargo checking account - 0.25%
    • A prior federal or private student loan made by Wells Fargo – 0.25%
    • Wells Fargo team member – 0.50%
    • 0.25% interest rate reduction when Wells Fargo EFS automatically withdraws the customer's monthly payment from a personal checking or savings account.
  • Other Benefits:
    • In the event of the student borrower's death or total, permanent disability the cosigner will not be responsible for repayment.
    • Pay later — Make no payments until 6 months after leaving school.
  • Wells Fargo has been in the student loan industry since 1968 and a Private Loan Lender since 1988.
  • Disclosures - www.wellsfargo.com/studentloandisclosures
 

 

SunTrust SunTrust Custom Choice Loan
as serviced by American Education Services (AES)
Lender Code
 911304
 

Contact Information
Phone: 1.866.232.3889
Website: www.SunTrusteducation.com

Loan Comparison Information

  • Choice of Fixed or Variable Interest Rates
    • Fixed rates range from 4.75% to 11.25%
    • Variable rates range from 2.99% to 8.99%
  • Choose your Repayment Type:
    • Pay nothing while in school
    • Pay Interest only
    • Pay Partial Interest ($25/month)
    • Start paying now
  • Generous Borrower Benefits
    • Up to .50% Interest Rate Reduction for ACH
    • 1% Principal Reduction per loan at graduation
  • Fees: No Origination or Repayment Fees
  • Cosigner Requirements:
    • A cosigner is not required; however, it may increase the likelihood of approval.
    • Cosigner Release available after 48 on-time payments.
  • Eligibility: Available to undergraduate and graduate students enrolled at least half-time.
  • SunTrust Private Student Loan Consolidation available. Consolidate one or multiple private student loans from any lender
  • Aggregate Limit: $150,000 with bachelor's degree or $250,000 with graduate degree
  • SunTrust has proudly provided education-financing services to students and parents for 46 years.
  • SunTrust Custom Choice Disclosure https://www.alternativeloan.com/CWA/ASD?link_id=SUNTFAO1
 

 

 sallie mae SallieMae Smart Option Loan
as serviced by SallieMae
Lender Code
900905
 

Contact Information
Phone: 1.888.2.SALLIE or 1.888.272.5543
Website: SallieMae.com/SmartOption

Lender Comparison Information

  • Interest Rate
    • Variable Rates: 2.25% APR to 9.37% APR
    • Fixed Rates: 5.74% APR to 11.85% APR
  • Loan Fees: No origination fees and no prepayment penalty
  • Repayment Options: Pay now or later—defer your payments until after school or choose an in-school repayment option that fits your needs.
    • Pay monthly interest
    • Pay $25 per month
    • Defer payments
  • Repayment Term: 5-15 years
    • Repayment term will vary based on loan amount and year in school.
  • Special Features/Benefits:
    • Auto Debit Savings — 0.25 percentage point interest rate reduction for automatic debit enrollment.
    • Smart Reward® — 2% cash back on scheduled payments made on time while in school with the Interest or Fixed Repayment Options.
    • Graduated Repayment Period — Budget flexibility for graduating students.
    • Tuition Insurance Benefit—Covers up to $5,000 of tuition lost due to a covered medical withdrawal. Available at no cost to you with loans that first disburse July 1 through October 31, 2014. Can be used if you have a balance to pay off before registering for the new semester.
    • Death and Disability loan forgiveness.
  • Loan Limit: Borrow up to 100% of your school-certified education costs (minimum $1,000).
  • Cosigner Requirement: Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate.
  • Cosigner Release: You can apply to release your cosigner after you graduate and make 12 consecutive on-time principal and interest payments. Releasing the cosigner will not adversely impact the rate on your loan.
  • Eligibility: Available to students enrolled full-time, half-time, and less than half-time.
  • Application Process: - Student or cosigner can initiate the application process at SallieMae.com. It only takes about 15 minutes to apply online and get a credit result.

 

 

 
discover

Discover Private Student Loan
as serviced by Discover Student Loans

Lender Code
831312

 

Contact Information
Phone: 1.800.STUDENT
Website: www.discover.com/student-loans/private-student-loans.html

Lender Comparison Information

  • Choose from fixed or variable interest rate:
    • Fixed rates as low as 5.99% APR
    • Variable rates as low as 3-Month LIBOR + 2.74% (currently 2.99% APR)
  • Zero fees
  • Borrower Benefits
    • Choice of making a fixed $25 in-school payment or deferring payments while enrolled in school at least half-time
    • 1% Cash Reward for good grades
    • 0.25% Auto Debit Reward
    • 0.25% GMAT® Test-Taker Reward (MBA students)
  • Borrower Eligibility
    • Enrolled at least half-time
    • Seeking a degree
    • Making satisfactory academic progress
    • US citizen, permanent resident or international student (International students require a Social Security number and a cosigner)
    • 16 years are older at the time you apply
    • Pass a credit check
  • Cosigner Eligibility
    • At least 18 years old
    • US citizen or permanent resident
    • Must pass a credit check
  • Simple Process: Apply online or over the phone in just a few minutes
    • Consider adding a cosigner; by choosing to add a cosigner, you may receive a lower interest rate.
    • Our knowledgeable Student Loan Specialists are ready to help you 24 hours a day, 7 days a week.
  • Discover is a leading direct bank with over 25 years of experience
  • Disclosureshttps://www.discover.com/student-loans/help/download-student-loan-forms.html
 

 

 Charter One

 

Charter One TruFit Student Loan
as serviced by Charter One

 

Lender Code
808140

  Contact Information
Phone: 1.866.721.3969 
Website: http://www.charterone.com/trufitstudentloan/

Loan Comparison Information

In addition to undergraduate students, we've expanded our product suite and now offer the TruFit Student Loan for graduate, law, MBA, medical and dental students.

  • No origination, application or disbursement fees
  • Fixed rate as low 5.75%
  • Variable rate as low as one-month LIBOR + 2.50%
  • 0.25% interest rate reduction for automating payment from any eligible bank account
  • Choice of repayment options — Borrowers may defer payments, pay interest only or begin making payments while in school
  • Up to .75% interest rate discounts!
    • Employee Pricing for ALL – 0.25% interest rate discount for all approved borrowers who apply between June 1, 2014 and August 31, 2014.
    • Loyalty Benefit - Automatic 0.25% interest rate discount for Citizens banking customers and TruFit Student Loan borrowers on their new TruFit Student Loan.
    • Automated Repayment Savings - 0.25% interest rate discount with authorized ACH monthly TruFit Student Loan payments.
  • Loan forgiveness in the unfortunate event of the death or total and permanent disability of the student. If the loan is cosigned, the cosigner will be released from future obligations related to the loan debt as well.
  • Cosigner release after 36 on-time principal and interest payments after leaving school.
  • Satisfactory academic progress not required.
  • Eligible for past due balance up to 180 days after the date of last attendance.
  • Charter One TruFit Student Loan disclosures http://www.charterone.com/trufit-disclosure/
  • Charter One has 25 years experience with student lending
 

 

Union Federal Union Federal Private Student Loan
as serviced by American Education Services (AES)
Lender Code
907798
 

Contact Information
Phone: 1.866.513.8445
Website: http://www.unionfederalstudentloans.com/

Lender Comparison Information

  • Competitive rates starting as low as 2.87%
  • No Origination or Repayment fees
  • Choice of multiple repayment terms
    • Immediate Repayment - Save on interest charges and reduce the total amount you will pay for your loan by making payments on both interest and the loan balance while you're in school.
    • Interest Only - Save on interest charges by making interest only payments while you're still in school.
    • Student Starter - Pay $25 a month while you're in school and defer full principal and interest payments until after graduation.
    • Full Deferment - Defer all payments until after you graduate.
  • 0.25% interest rate reduction for ACH payments
  • 0.25% interest rate reduction for on-time payments
  • Cosigner release option after 36 months of on-time payments
  • International students must apply with an eligible U.S. cosigner
  • Can be used to cover past due balances