Lenders
Citibank
http://www.studentloan.com/
Stafford:
- Zero Origination Fees and Additional Earned Interest Rate Reduction of 2.25%
- 0.25% interest rate reduction for borrowers who have their Stafford Loan payments automatically deducted from their bank accounts and receive their statements only electronically.
- 1.00% rate reduction after 36 on time consecutive payments
- An additional 1.00% interest rate reduction after 48 on time consecutive payments
- Life of loan servicing-Citibank's practice is to hold and service every loan we originate, standing by our customers throughout the life of the loan.
PLUS:
Interest Rate Reduction of up to 1.00%
- 0.50% interest rate reduction at repayment
- 0.50% interest rate reduction for borrowers who have their PLUS Loan payments automatically deducted from their bank accounts and receive their statements only electronically.
- In-school forbearance option allows you to choose to defer principal and interest payments for up to 48 months while your child is in school
- Life of loan servicing-Citibank's practice is to hold and service every loan we originate, standing by our customers throughout the life of the loan.
CitiAssist
No Fees. Interest Rate as Low as Prime minus 0.50%, and additional earned interest reductions of up to 0.75%
0.50% interest rate reduction for borrowers who make their first 48 consecutive monthly payments on time.
0.25% for borrowers who have their CitiAssist payments automatically deducted from their bank accounts and receive their statements only electronically.
Co-signer release option available
Citibank is both the lender and servicer for private loans that we originate, so your loan stays with Citibank
SCSLC
http://www.slc.sc.edu/
- Promissory note must be requested through the Financial Aid Planning Office
- Degree Money Back/Palmetto Tuition Grant
- A way of rewarding borrower who (1) finish their University education and (2) repay their student loans in a timely manner.
Incentives Awarded
- $250 if the borrower’s highest degree is an Associate’s Degree
- $500 if the highest degree is a Bachelor’s of Arts or Science
- $750 if the borrower’s degree is graduate/professional
- No origination fee
- .25% reduction electronic debiting
- 1st 48 on time payments 2% rate reduction
Wachovia Education Finance (Educaid)
(800) 338-2243
www.wachovia.com/education
Lender code: 830005
Special Benefits/Incentives
Stafford
- No Origination fees! Wachovia Education Finance pays the 3% origination fee on your Stafford loan that other lenders may charge, meaning more money for you.
- Triple Payback 3.5% CASH BACK
- Immediate1% rebate of principal at start of repayment.
- Extra 1% rebate of principal after 12 months of on-time payments.
- Additional 1.5% rebate of principal after 24 months of on-time payments.
- Enjoy increased savings when you apply benefits to reduce your principal loan amount
Additional Benefits
- No guarantee fee
- Free Checking available for University students
- On-line account access available
Plus
- Triple Payback 3.5% CASH BACK
- Immediate 1% rebate of principal at start of repayment.
- Additional 1% rebate of principal after 12 months of on-time payments.
- Additional 1.5% rebate of principal after 24 months of on-time payments
- Enjoy increased savings when you apply benefits to reduce your principal loan amount
Additional Benefits
- Dedicated PLUS counselors available to resolve credit issues
- Call 1-877-916-PLUS (7587) for faster pre-approvals
- Pre-approvals available on-line at www.wachovia.com/education
- No payments for up to 4 years with forbearance option
Financial Aid Planning Office
Anderson University
316 Boulevard
Box 1142
Anderson, SC 29621
(864) 231-2070
finaid@andersonuniversity.edu