The following is a list of established lenders who we have placed on our Preferred Lender list because their services are exemplary and are designed to benefit you. The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce your loan balance or lower your interest rates.
Financing the cost of a college education can be a complex task. There are a number of options available to assist families who are in need of a way to bridge the gap between what their financial resources will allow and the cost of higher education. Since each family's financial situation is different, we are not able to recommend one financing plan that will meet each family's needs. We have, however, prepared this chart to provide you with information about the Parent PLUS Loan programs used most frequently by our students and their families.
Compare Lenders
Lender Information
Borrower Benefits & Customer Service
Apply Now
Benefits
Applicable to loans first disbursed on or after July 1, 2008 are: Instant 1% savings with zero default fees when using a guarantor that does not charge the fee, such as PHEAA 1% interest rate reduction when the first 36 payments are made on-time using auto debit Benefit Rehabilitation – If a borrower is delinquent on one of the first 36 payments, they can re-earn the benefit by completing a financial literacy tutorial and making the remainder of their first 36 payments on time
Services
Instant PLUS approval notifications Assistance with credit issues during the application process Immediate repayment options Parents can apply for PLUS Loan by phone, online, or by fax, including instant pre-approvals for online and phone applications and a 10-minute fax pre-approval service coordinated by our dedicated PLUS team.
Benefits
AES will underwrite the 1% default fee for all borrowers. Edamerica will offer 0.60% interest rate reduction immediately at disbursement. Please note that this .60% discount applies during periods of deferment and forbearance. Edamerica will offer an additional 0.25% interest rate reduction for participating in auto-debit. Grace period on late payments is 15 days. We will continue to offer the in-school deferment to all borrowers, parents and students. Life-of-loan servicing Postpone payments or make interest-only payments for up to 48 months while student is enrolled at least half-time Loan consolidation available In the state of Pennsylvania, Edamerica may sell its loans to AES/PHEAA with a life-of-the-loan servicing and maintenance of benefit provision in the servicing contract.
Benefits
.60 % interest rate reduction at repayment .30% interest rate reduction for auto debit from ANY bank account Delayed repayment available for up to 4 years Endorsers accepted Second look credit review is available
Services
Life of loan servicing (combined with private loans) Easy on-line application E-signature available “Live” customer service representative is available
Benefits
Keystone Best Lender 0.25% interest rate reduction for borrowers who elect to have their monthly payments automatically deducted from a bank account. Zero default fee with AES guarantor. This guarantor subsidizes the default fee See Web site or call for additional terms and information. Benefits apply to loans originated under lender code 811571 and guaranteed on or after June 1, 2008. Chase may sell its loans to the U.S. Department of Education
Services
Pre-approval in seconds online or over the phone Fixed interest rate Flexible repayment terms Parents may delay repayment for loans first disbursed after June 30, 2008 until 6 months after the student ceases to be enrolled at least half time in school Chase has more than 40 years of experience in the student loan industry
Benefits
0% Default fee with ECMC guaranty 0.50% automatic interest rate reduction when you enter repayment 0.25% interest rate reduction when you enroll in our auto-debit payment program Unlimited opportunities to earn back the automatic rate reduction benefit if it is ever lost due to a late payment
Services
Borrow up to the full cost of education, less any financial aid Easy online application Flexible repayment options If denied, a “second look” can be requested
Financing the cost of a college education can be a complex task. There are a number of options available to assist families who are in need of a way to bridge the gap between what their financial resources will allow and the cost of higher education. Since each family's financial situation is different, we are not able to recommend one financing plan that will meet each family's needs. We have, however, prepared this chart to provide you with information about the alternative loan programs used most frequently by our students and their families.
Compare Lenders
Lender Information
Borrower Benefits & Customer Service
Apply Now
Benefits
Origination fees as low as 0% (as determined by credit criteria) Interest rate as low as prime minus 1.25% in repayment Instant credit decisions Interest capitalized only at repayment to save you money Flexible repayment terms based on loan balance, with up to 25 years to repay Loan consultants available to assist borrowers 24 hours a day, 7 days a week at 800.892.1588 A qualified co-borrower will always improve terms Borrow up to the total cost of attendance, minus other aid received No payments for six-months after graduating or dropping below half-time enrollment May apply for co-borrower release after making any 24 consecutive, scheduled payments on time
Benefits
0% origination and repayment fees for every borrower (NO FEES)! Rates as low as Prime minus 1.0% with a cosigner, Prime minus 0.5% without a cosigner 0.25% interest rate reduction for automatically debited payments No payments while in school; 6 month grace; up to 25 years to repay See web site or call for important additional information
Services
Can be used to cover past due balances and for less than half time Online pre-approval and application, including e-signature Loans are originated and serviced internally by Chase All Chase-serviced loans, including private loans, are combined into a single bill Choice of flexible repayment options Cosigner release option after 36 any ontime payments Loans are not sold
Benefits
Interest rates as low as Prime minus 0.50% Fees as low as 0% May be enrolled less than half time, half time or full time Satisfactory academic progress not required Matriculation not required Loans can be used for balances incurred within the last 12 months .25% Interest rate reduction for auto-debit payments .50% Interest rate reduction when you make the first 48 on-time consecutive payments
Services
Citibank’s Customer Service Representatives are available by phone, Monday through Friday 8 a.m. to 11 p.m. ET, at (800) 967-2400. Email Citibank Customer Service at student.loans@citi.com Co-signer release available after 24 on-time payments Master Promissory Note and electronic signature available Credit response in 3 minutes or less Flexible credit evaluation guidelines
Benefits
Loans can be certified for balances incurred within the last 12 months. Interest Rate: As low as Libor + 1.80% based on credit Loans fees as low as 0% Co-borrower release option available after 24 consecutive monthly on-time payments. 0.25% interest rate reduction for auto debit 6 month grace period.
Services
Can be used for less than half-time. Satisfactory academic progress not required
Benefits
Fees as low as 0% for qualified borrowers. 0.25% interest rate reduction for payments made by automatic debit. Co-signer release option after 48 on-time payments. No prepayment penalties. Multiple, uneven disbursements at the school’s request (up to four per year). Option to defer principal and/or interest payments for up to 4½ years while the student is enrolled at least half time. Satisfactory academic progress is not required.
Services
Students 17 years of age and over may apply. Hardship forbearance is reviewed and granted on a case-by-case basis. Six-month grace period from graduation or enrollment of less than half time. Annual loans from $1000 up to Cost of Attendance minus other financial aid. May be used for less than half time enrollment. May be used for prior balances, with no time limit. Up to 25 years to repay based on loan balance
Benefits
0 fees available 0.25% interest rate reduction for auto debit from ANY bank Co-signer release option available after making initial 48 payments on-line
Services
Life of loan servicing (combined with federal loans) Easy on-line application E-signature available Can be used for past due balances International students are eligible SAP not required
Additional Resources
Helpful Links
These links will open in a new browser window.
