La Salle University



 

Alternative Loans for 2009-2010

Alternative loans are loans in a student's name with or without a cosigner depending of the credit worthiness of the student.

Because the interest rate and borrower benefits are contingent on the credit worthiness of the borrower and the cosigner La Salle cannot accurately recommend which loan would be best for the student.  In fact it is extremely difficult for a dependent student to approve for such a loan without a creditworthy cosigner. 

Students have the right to select any lender.    Because the terms and conditions of the loans depend so greatly on the credit score of the borrower and cosigner, we cannot recommend one lender over another.  It is important to be a good consumer and explore all of the Alternative Loan options.  In fact many loans have different interest tier so it is important to determine for what tier you qualify and what your interest rate will be. In general interest rates are based upon a standard then a % is added. Example: if the lowest interest rate is the 3 mo Libor + 3.65% then as of 5/20/2009 the rate would be 4.56% (.91% 3 mo libor + 3.65)

LENDER INFORMATION

BORROWER BENEFITS

Chase Select  
Chase  Bank

Phone: 866-306-0868
Apply now:
ChaseSelectLoans.com

  • Lowest Rate – 3 mo Libor + 4.75% - Fee 0%
  • Variable Rate
  • Highest  Rate – 3 mo Libor + 11.75% - Fee 0%
  • Can defer interest and principal while in school
  • Cosigner released after 36 months of on-time payments
  • Must be enrolled at least for 3 credits
  • Offers the fastest electronic processing
  • Student does not have to make academic Progress

Citiassist Loan
Citibank
Phone: 800-Student
Apply now:
Studentloan.com

  • Lowest Rate – Prime + 1% Fee - 0%
  • Highest  Rate – Prime + 7.5% - Fee – See website for fees
  • Can defer interest and principal while in school
  • Cosigner released after 24 months of on-time payments
  • Must be enrolled at least for 3 credits
  • International students can borrow with a US Cosigner

NJ Class Loan
For NJ Residents Only

Phone: 800-792-8670

 

  • Lowest Rate- 7.62% fixed of 3/15/2009
  • Highest Rate- 8.02% fixed of 3/15/2009
  •  Fee 2%
  • Must be enrolled at least for 6 credits
  • Must pay interest while in school
  • Student has to make academic progress
 

PNC Solutions
PNC Bank
Phone: 800-762-1001
Apply Now:
PNConcampus.com

  • Lowest Rate – 3 mo Libor + 2.25% - Fee 0%
  • Highest  Rate – 3 mo Libor + 8% - 6% Fee
  • Can defer interest and principal while in school
  • Cosigner released after 48 months of on-time payments
  • Must be enrolled at least for 6 credits
  • Student does not have to make academic Progress

Academic Answer
Sun Trust  Bank
Phone: 800-552-3006
Apply Now:

Suntrusteducation.com
  • Lowest Rate – 1 mo Libor + 3% - Fee 0%
  • Highest  Rate – 1 mo Libor + 10.50% - 0% Fee
  • Can defer interest and principal while in school
  • Cosigner released after 48 months of on-time payments
  • Must be enrolled at least for 6 credits
  • Student does not have to make academic Progress

You may borrow from any lender of your choice. The lender you select does not have to be one of the lenders listed above. Please contact Student Financial Services if selecting a lender not listed.   The above benefits are provided for comparison purposes only.  Please contact the lender for exact terms and conditions.
Additional qualification requirements apply for each benefit listed above. Visit each lender’s web site to learn how to earn their benefits.



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We love questions. E-mail us at finserv@lasalle.edu.