Alternative Loans - Lender List
For your convenience, we have compiled a list of lenders for the 2008-2009 academic year. These lenders are committed to providing students with strong borrower benefits and excellent service. These lenders meet or exceed criteria that are valuable to our students and college and were chosen via an annual evaulation process where they were scored based on a model provided by the National Association of Financial Aid Administrators (NASFAA). Please know that Hanover College does not have agreements with any lenders to provide financial incentives to the college based on guaranteed loan volume or any other metric. We have always and will continue to honor the student's right to choose any lender. If you choose to utilize a lender other than one listed below, we recommend that you contact the Office of Financial Assistance to ensure timely processing of your loan. Please remember that your lender is your choice.
Scroll down to review all lenders.
Benefits are subject to change at any time. Please consult the lender website for the most up to date information.
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Lender: |
Wachovia Undergraduate | Chase Select |
Citibank CitiAssist |
| Servicer: | Wachovia | Chase | Citibank |
|
Lender Code: |
830005 | 503000 | 826878 |
| Interest Rate with Co-signer: |
Prime -0.50% to +4.00% | Prime -1.00% to +5.50% | Prime -0.50% to +4.75% |
|
Fees with Co-Signer: |
0% | 0% | 0-5% |
| Deferment: | Payments deferred for 6 months after graduation/separation from school | Payments deferred as long as student is enrolled at least half-time | Payments deferred as long as student is enrolled at least half-time |
| Co-Signer: | Release option after 36 consecutive on-time payments | Release option after 24 consecutive on-time payments | |
|
Additional Benefits & Info: |
0.50% Interest rate reduction with automatic debit of payments |
0.25% Interest rate reduction with automatic debit of payments - Lose benefit with 3 NSF |
0.25% Interest rate reduction with automatic debit of payments 0.50% Interest rate reduction with 48 consecutive on-time payments |
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Borrower Hotline: |
1-800-338-2243 | 1-866-306-0868 | 1-800-745-5473 |
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Lender Website: |
www.wachovia.com | www.chase.com | www.citibank.com |
| Online Application: | Can apply for this loan beginning May 19, 2008 | Can apply for this loan beginning July 1, 2008 | Can apply for this loan beginning June 1, 2008 |
|
Lender: |
Sallie Mae Signature | Wells Fargo Collegiate |
Key Alternative |
| Servicer: | Sallie Mae | Wells Fargo | Great Lakes |
|
Lender Code: |
900905 | 500000 | |
| Interest Rate with Co-signer: | Libor +2.00% to +6.00% | Prime +0% to 5.99% | Libor +2.49% to +5.99% |
|
Fees with Co-Signer: |
0% |
0% |
0% |
| Deferment: | Payments deferred as long as student is enrolled at least half-time | Payments deferred for 6 months after graduation/separation from school | Payments deferred as long as student is enrolled at least half-time |
| Co-Signer: | Release option after 24 on-time payments | Release option after 24 consecutive on-time payments | Release option after 48 on-time payments |
|
Additional Benefits & Info: |
0.50% Interest rate reduction with automatic debit of payments
No income required |
0.25% Interest rate reduction with automatic debit of payments 0.50% Interest rate reduction at repayment with verification of graduation |
Combined billing available with KeyBank Stafford Loans |
|
Borrower Hotline: |
1-888-272-5545 | 1-800-658-3567 |
1-800-KEY-LEND |
|
Lender Website: |
www.salliemae.com | www.wellsfargo.com | |
| Online Application: | Can apply for this loan beginning June 1, 2008 | Apply Now | Apply Now |
|
Lender: |
Fifth Third Signature |
| |
| Servicer: | Sallie Mae | ||
|
Lender Code: |
508780 | ||
| Interest Rate with Co-signer: | Libor +2.00% to +7.50% | ||
|
Fees with Co-Signer: |
0% | ||
| Deferment: | Payments deferred as long as student is enrolled at least half-time | ||
| Co-Signer: | Release option after 24 consecutive on-time payments | ||
|
Additional Benefits & Info: |
0.50% Interest rate reduction with automatic debit of payments |
||
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Borrower Hotline: |
1-800-222-7192 |
| |
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Lender Website: |
www.53educationlending.com |
| |
| Online Application: | Can apply for this loan beginning June 1, 2008 |
