Lender Loan Disclosures

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Sallie Mae Student Loans Disclosures

Borrowing Responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Smart Option Student Loan information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. Non-U.S. citizen students, including DACA students, will need to submit proper documentation to prove citizenship/identity; this can include an unexpired foreign passport, an unexpired student visa, an alien registration card, or an employment authorization document. All documentation must be unexpired at the time of the application, government-issued, and include a photograph. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Sallie Mae Parent Loan information is for borrowers with students attending degree-granting institutions only. The student is not eligible to be a borrower or cosigner and must be attending a participating school or have attended one during an eligible prior enrollment period or be enrolled in an eligible study abroad program. The borrower, cosigner and student must be U.S. citizens or permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount to Sallie Mae. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

* APRs for the Principal and Interest Repayment Option are higher than APRs for the Interest Repayment Option. Variable rates may increase over the life of the loan. APRs assume a $10,000 loan to a person borrowing for a freshman student.

** This repayment example is based on a typical loan to a borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and an 8.88% variable APR. It works out to 51 payments of $25.00, 119 payments of $162.06 and one payment of $120.23, for a Total Loan Cost of $20,680.37. Variable rates may increase over the life of the loan.

*** This repayment example is based on a typical loan to a borrower (on behalf of a student) who chooses a variable rate and the Interest Repayment Option for a $10,000 loan, with two disbursements, and an 8.86% variable APR. It works out to 4 payments of $36.98, 44 payments of $73.96, 119 payments of $126.45 and one payment of $94.42, for a Total Loan Cost of $18,544.13. Variable rates may increase over the life of the loan.

**** Available for loans used to pay qualified higher education expenses at a degree-granting institution. Graduated Repayment Period (GRP) allows interest-only payments for 12 billing periods after principal and interest repayment begins. At the time of GRP request, the loan must be current (not past due). Customers may request GRP during the six billing periods before and the 12 billing periods immediately after the loan first enters principal and interest repayment. GRP does not extend the loan term. GRP increases the Total Loan Cost and monthly payments after the GRP will be higher than they would have been without it.

***** Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a forbearance.

****** Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change.

It's important to explore your options.
The Sallie Mae Parent LoanSM and the Smart Option Student Loan are separate products with different features and available interest rates. Learn More at SallieMae.com/ParentOptions.

The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan and Sallie Mae Parent Loan customers.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
Information advertised valid as of June 25, 2018.

Sallie Mae, the Sallie Mae logo and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank or its subsidiaries.

1,3  Click here for important information, terms, conditions and limitations apply. Smart Option Student Loans have variable interest rates that start from 4.12% APR to 10.98% APR and fixed rates that range from 5.74% APR to 11.85% APR.

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Ascent Student Loans Disclosures

Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. Certain restrictions and limitations may apply. Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. All loan products may not be available in certain jurisdictions. Other terms and conditions apply. Ascent is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank. 

  1. Variable rate loans are based on a margin between 2.25% and 9.50% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 1.953%, which may adjust monthly.  Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an Annual Percentage (APR) range between 3.95% and 10.45%.  Fixed rate loans have an APR range between 5.79% and 12.10% based on your credit worthiness and your selected program. Competitive variable rates calculated monthly at the time of loan approval.(Rates are effective as of 06/01/2018 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account.)
  1. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.
  1. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three (3) flexible in-school repayment options that include fully deferred, interest only and $25 minimum repayment.  Click here for an Ascent Tuition repayment example.
  1. Flexible repayment plans may be offered with up to a fifteen (15) year repayment term for a variable rate loan and ten (10) year repayment term for a fixed rate loan. Students must be enrolled at least half-time at an eligible school. Minimum loan amount of $2,000. Click here for an Ascent Tuition repayment example.
  1. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or cosigner signs up for automatic payments and the regularly scheduled, current amount due (including full, flat, or interest only payments, as applicable) is successfully deducted from the designated bank account each month. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance. If you have two (2) returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the 0.25% interest rate reduction. You will then need to re-qualify and re-enroll in automatic debit payments in order to receive the 0.25% interest rate reduction. 
  1. All applicants (individual and cosigner) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.
  1. Eligibility, loan amount and other loan terms are dependent on a number of factors which may include: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution. 
  1. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old. 
  1. 1% Cash Back Graduation Reward subject to terms and conditions, click here for details.
  1. Students can apply to release their cosigner and continue with the loan in only their name after making the first 24 consecutive regularly scheduled full principal and interest payments on-time and meeting the other eligibility criteria to qualify for the loan without a cosigner.

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Citizens One Student Loans Disclosures

1. Student Loan Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month.As of August 1, 2018, the one-month LIBOR rate is 2.07%. Variable interest rates range from 4.04% - 12.01% (4.04% - 11.91% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, chosen discipline and presence of a co-signer. Fixed interest rates range from 5.25% - 12.19% (5.25% - 12.09% APR) and will vary based on applicable terms, chosen discipline and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens One is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.

Citizens One: Loyalty, Automatic Payment and Co-signer release disclosures

2. Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

3. Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.

4.Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply.

5.  Citizens One Parent Loan Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate
("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the
preceding calendar month. As of August 1, 2018, the one-month LIBOR rate is 2.07%. Variable interest rates range from 5.02%-8.34% (5.02%-8.34% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms. Fixed interest rates range from 5.74%-8.56% (5.74%-8.56% APR) based on applicable terms. Lowest rates shown are for eligible applicants, require a 5-year repayment term and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens One is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.

6. Citizens One Student Loan Eligibility: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower/eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer is required. Citizens One reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Citizens One Student Loans private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens One Student Loans-participating school.

Please Note: International Students are not eligible for the multi-year approval feature.

7. Citizens One Student Loan for Parents Eligibility: Borrowers must be a creditworthy U.S. citizen or permanent resident residing in the U.S. and must have attained the age of majority in their state of residence. The student whose education expenses will be paid for with the loan proceeds must be a U.S. citizen or permanent resident and must be enrolled at least half-time in a degree granting program at a Citizens One Student Loans-participating school. Citizens One reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Citizens One Student Loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, school certification of the loan amount, and student’s enrollment at a Citizens One Student Loans-participating school.

8. Multi-year Approval funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, we may refuse to allow you to take out additional loans under the multi-year approval feature, terms and conditions will be outlined in your promissory note.

9. Aggregate limits up to $350,000 for MD, DMD/DDS, OD, DO, PDM, and DVM degrees. Aggregate limits up to $180,000 for cardiac perfusion, chiropractic, cytotechnology, nurse practitioner, occupational therapy, pharmacy, physical therapy, and physician assistant degrees.

10. STUDENT LOAN REPAYMENT: Student borrowers can make full payments or pay interest only while in school, or defer payments until after graduation (interest continues to accrue during deferment periods).

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College Ave Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or Nationwide Bank, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

1. All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

2. As certified by your school and less any other financial aid you might receive. Minimum $1,000.

3. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7% variable Annual Percentage Rate (“APR”): 96 monthly payments of $179.28 while in the repayment period, for a total amount of payments of $17,211.20. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 07/01/2018. Variable interest rates may increase after consummation.

WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE (IN WHOLE OR IN PART) THIS LOAN PROGRAM AND ITS ASSOCIATED SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK WWW.COLLEGEAVESTUDENTLOANS.COM FOR THE MOST UP-TO-DATE INFORMATION.

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Connext Private Student Loans: Powered by ReliaMax

Connext Private Student Loans Powered by ReliaMax works with a network of lenders that enables you to get 100% of all school certified educational costs up to the loan maximum. Connext gets you started earning an undergraduate or graduate degree, and our network of lenders can refinance your loans when you are out of school.

Undergraduate/Graduate Rates:

VARIABLE RATES:
*Annual Percentage Rate (APR). This loan has a variable interest rate equal to an Index plus a Margin. The Index is the three-month London Interbank Offered Rate (“LIBOR”) published in the “Money Rates” section of The Wall Street Journal on the 20th day of the month preceding the applicable Change Date as applied according to the following rules (or on any successor or substitute page of a successor available source providing such quotations). The 3Month LIBOR as published without regard to the two-day delayed effective date. If the 20th day of the month is not a business day, the preceding business day is used to determine the Current Index. For purposes of this Paragraph “business day” means any day the banks in New York and London are open for the transaction of business. The current 3 Month LIBOR is 1.64% as of December 20, 2017 used for the rates effective January 1 - March 31, 2018. The Margin is determined upon approval of the loan and does not change. The APR example was calculated on a $12,000 loan with payments deferred for 2.5 years. The low APR rate includes a 0.25% discount for automatic payments (ACH) and a 10-year repayment term. The high APR rate uses a 15-year repayment term and does not include a discount. The interest rate is subject to change quarterly which may result in a higher monthly payment amount. Within the application process, before a borrower can accept the terms and conditions of a loan (including interest rate), an Application Disclosure and Approval Disclosure will be provided. Interest rates are based on the credit of the applicant and/or co-signer.

FIXED RATES:
* Annual Percentage Rate (APR). This loan has a fixed interest rate that is determined at the time of the application approval. The rate does not change during the term of the loan. This APR was calculated on a $12,000 loan with payments deferred for 2.5 years. The low APR rate includes a 0.25% discount for automatic payments (ACH) and a 10-year repayment term. The high APR rate uses a 15-year repayment term and does not include a discount. Within the application process, before a borrower can accept the terms and conditions of a loan (including interest rate), an Application Disclosure and Approval Disclosure will be provided. Interest rates are based on the credit of the applicant and/or co-signer.

ACH Discount:
1 - Loans are subject to receive a 0.25% interest rate discount when a loan is enrolled in recurring ACH payments with ReliaMax, the loan servicer. The interest rate is discounted form the date of the first payment automatically deducted until the date of the last payment that is automatically deducted. If you cancel recurring ACH any time during repayment, the interest rate ends as of the last date a payment was deducted automatically.

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LendKey Disclosures

1 - Tax Deductible Interest Payments

The deduction is generally the smaller of $2,500 or the interest you paid in the calendar year. Please consult with a tax expert to understand if this option may be available to you.

2 - Cosigner Release

In order to qualify, the borrower, alone, must meet the lender's credit criteria, and the borrower's loan account must be and remain current up until the lender's decision to release the cosigner has been made.

3 - Autopay Rate Reduction

Subject to floor rate. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments..

Detailed review of LendKey Student Loans

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CommonBond Private Student Loans Disclosures

Click here to see CommonBond's Diclaimers.

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Advertiser Disclosures:

NitroCollege.com is a free website designed to help students and their families evaluate how to responsibly pay for their college education. Before recommending any services we put lenders thru a vetting process that includes: the competitiveness of rates, repayment options and terms, any discounts offered, any fees or penalties to be aware of, responsiveness to customers and applicants, and the lenders overall reputation and history. Nitro is not a lender and is not involved in the private student loan approval process, nor do we make credit related decisions. The lenders profiled on our site are the ones who will issue and approve your private student loan applications. We will sometimes earn a bounty for recommending various products and services to you. Actual interest rates may vary depending on your credit score, income, savings, type of degree, and whether you apply with a cosigner. Here at Nitro we strive to provide the most up-to-date information, but you should always check with individual lenders for current rates, terms, and conditions before applying for private student loans.