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FAFSA on the Web
Federal Student Guide to Financial Aid
US Dept of Education
Selective Service Registration
Federal Pin Website

Financing Options

Payment Plan:  Tuition Managment Services

  
Lender Selection Process

1.Mail out Request for Information (RFI) to lenders

2.Committee will go through information that is received from lenders

Committee members are from:
Athletics Office
Academic Support Services
Student Accounts
Center for Student Administrative Services (customer service)
Registrars Office

3. Criteria for rating lenders in no order:

Customer Service
Company Stability
Ease of application process
Technology
Accessibility for borrower
Accessibility for school
Online access for school and borrower
Long Term benefits for borrower
Short Term benefits for borrower
Back end benefits

4.Selection of Suggested Lenders is based upon decision of the committee and informal feedback from students and/or family


Stafford Loans and Parent Plus

 American Student Assistance  can be contacted for Stafford loan and Parent Plus Loan questions

Chase
Stafford Loans -

• Zero guarantee fee (regardless of guarantor)
• Zero origination fee
• .10% interest rate reduction at repayment
• 100% of your students will receive this benefit and it cannot be lost unless the borrower defaults or consolidates

PLUS Loan -

• Zero guarantee fee (regardless of guarantor)
• .10% interest rate reduction at repayment
• 100% of your students will receive this benefit and it cannot be lost unless the borrower defaults or consolidates

Chase Select Private Loan -

• Zero fees
• .25% interest rate reduction
• Rates as low as Prime - 1%
• Students can apply on their own signature
• No income requirement
• Coborrower release option after 36 on-time payments

Contact information: chasestudentloan.com
1-800-487-4404

Bank of America Federal Stafford and PLUS
For the 2008-2009 academic year, Bank of America will provide the following benefits:

Stafford Loans -

• 0% Origination Fee¹
• Bank of America will pay the government’s origination fee for Stafford borrowers. 
• 0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers
•  The rate reduction applies for the life of the loan. Once the borrower earns the benefit, it is not removed for any reason.
• Bank of America verifies that a borrower has a checking or savings account.  The borrower does not need to take any extra steps or provide documentation.
• Auto debit is not required.
• The first disbursement on your loan must occur before 6/30/09 to receive this benefit.
•  If the first disbursement on your loan is before 6/30/09, a 0.25% interest rate reduction applies if you have a Bank of America checking or savings account open for at least 60 days between your loan disbursement and your first scheduled payment.  Your rate will be reduced shortly after you make your first scheduled payment on time.  To see our checking and savings accounts, visit https://www.bankofamerica.com/index.jsp and click “Checking” or “Savings & CDs”.

PLUS Loan -

• 0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers²
  The rate reduction applies for the life of the loan. Once the borrower earns the benefit, it is not removed for any reason.
  Bank of America verifies that a borrower has a checking or savings account.  The borrower does not need to take any extra steps or provide documentation.
• Auto debit is not required.
• The first disbursement on your loan must occur before 6/30/09 to receive this benefit.
•  If the first disbursement on your loan is before 6/30/09, a 0.25% interest rate reduction applies if you have a Bank of America checking or savings account open for at least 60 days between your loan disbursement and your first scheduled payment.  Your rate will be reduced shortly after you make your first scheduled payment on time.  To see our checking and savings accounts, visit https://www.bankofamerica.com/index.jsp and click “Checking” or “Savings & CDs”.

EdAmerica
Stafford Loans -

• 0% to 1% default fees: Based on guarantor of choice.  Edamerica is not paying the default fee but serveral guarantors have announced that they will pay the 1% default fee.
• 0.60% Interest rate reduction for ACH payments: Borrowers who choose to repay using the auto-debit program will receive an additional 0.60% interest rate reduction with continuous on-time payments.

Contact: edamerica.net


Alternative Student Loans 

Wachovia

• Zero origination, guarantee, repayment, disbursement, and co-signer fees 
• Interest rate as low as the Prime Rate minus– 0.50% to Prime + 4%
• Interest rate reduction of  -0.50% available with auto debit payments
• No income documentation required for most borrowers
• No minimum credit hours, no SAP required, and can use for Non-Degree students
• Borrow up to Cost of Attendance – other aid  ($15,000 for Bar and Residency)
• Finance current or past-due balances up to 3 years old (no current enrollment required)
• Students may apply alone or with a co-borrower  (co-borrower release available after 36 months) 
• Online application for faster funds (can apply up to 180 days before first disbursement) 
• Flexible repayment with ability to suspend or reduce payments during times of financial difficulty (up to 24 months for hardship forbearance)  and up to 25 years to repay
• Make NO Payments with in school deferment up to 10 ½ years
• Interest capitalizes 6 months after graduation or 6 months after student leaves school
• 6 or 9 month grace period
• Minimum loan amount $500

Contact: Wachovia.com/privateloans

Campus Door

Up to 20 years to repay your loan Deferments and Forbearances available No prepayment penalties Interest only, graduated, and standard payment options availabl 24/7 Instant approval in 60 seconds or less 0.50% interest rate reduction for Auto-debit 0.50% interest rate reduction for 48 consecutive on-time payments Co-signer release option after 36 consecutive on-time payments $250,000 Aggregate Lifetime Maximum 12 month grace period after graduation 6 month grace period after no longer enrolled at least half-time Origination fee:  from as low as 0%  to 9% based on credit and cosigner presence Prime -.50% to Prime + 6.9% with a cosigner Prime -0.50% to Prime + 7.9% without non-cosigner       Contact: CampusDoor.com\studentloan                    1-800-786-0002

Sallie Mae

Student Signature Loan - 

• One eligible individual: Libor + 2.5% to Libor + 9.5%
• Two eligible individuals: Libor + 2.5% to Libor + 8.5%
• Zero fees
• A .50 percentage point interest rate reduction with auto-debit
• No income requirement
• Cosigner release available after the first 24 on-time payments of principal and interest1
• Six month grace period
• 24/7 on-line account management with Manage Your LoansSM
• Sallie Mae’s Upromise Loan LinkSM service can help students and families pay down student loans
• Combined billing for borrowers with multiple Sallie Mae loans

Contact: SallieMae.com/signature
1-888-272-5543


College Loan Corporation 

• Minimum: $1,000
• Annual maximum: up to the total Cost of Attendance, minus other aid received
• Rates and fees are determined by a credit evaluation. Applicants are encouraged to utilize a qualified co-borrower to receive the most favorable terms.
• Interest is adjusted quarterly based on the prime rate as published in The Wall Street Journal
• The interest rate cap is predicated on all applicable laws and regulations related to consumer lending
• Interest rate as low as prime minus 1.25% when all borrower benefits are utilized
• Zero application fee
• Origination fee as low as 0% (determined by credit criteria) - added to the principal amount upon disbursement
• Maximum fee is 10%
• No repayment (back-end) feesSix-month grace period after graduation, leaving school or dropping below half-time enrollment
• Minimum monthly payment of $50
• Interest is billed quarterly while in school, but payment is not required
• Interest that accrues during school and in grace will be capitalized only at repayment to reduce the cost of interest
• Up to 30 years, depending on loan balance
• 0.50% interest rate reduction for borrowers who choose to make interest payments while in school
• 0.25% interest rate reduction for enrolling in automatic payments
• Co-borrower release option after any 24 consecutive, on-time payments
• 15-day grace period for late payments
• College Loan Corporation loan consultants available to borrowers 24 hours a day, 7 days a week to assist with the application process
• One Call Promise® eliminates phone tag and resolves matters quickly
• Combined billing with federal student loans may be available

Families are not limited to lenders on the Suggested Lender list. 

For more information, please feel free to contact us at 508-541-1518 or by email at financialaid@dean.edu.