Private Loan Program

You may apply for these loans to help cover the educational costs you will incur during one term or one academic year. Generally, these are not need-based loans, but rather loans based on such factors as credit-worthiness and stability of income, residence, or employment. Many of the loan programs offer deferment options while you are in school. You will be able to apply for pre-approval by phone, fax, or mail. Some programs will require certification of your enrollment status and/or educational costs by the Excelsior College Financial Aid Office. Remember, you must repay these funds to the lender. If the loan program you have chosen requires verification of admission or enrollment status, please contact the Financial Aid Office.

Wells Fargo Collegiate Loan

Provided by Wells Fargo Education Financial Services
1-877-401-6974 or Wells Fargo Private Student Loan

The Wells Fargo Collegiate Loan is an ideal solution for students at Excelsior College. The loan is designed for students who want additional training to change careers, or who are working and want to enhance their current careers. Students may borrow up to the cost of the program or the minimum amount of $1,000. The interest rate is as low as the Prime Rate + 0 percent, and there are no origination, disbursement, or repayment fees.

The Wells Fargo Collegiate Loan's affordable rates and flexible repayment options make paying for your education easier than ever.

Offering you a 0.50% combined savings on your interest rate is our way of congratulating you for your hard work while helping you get started on your life after college.
 

• You'll get 0.25% off your interest rate when you graduate (Verification of completion of a certificate or license is required.)
   
• Plus, an additional 0.25% off your interest rate when you choose automatic payments

• No payments until you graduate or leave school (Maximum in-school periods apply and vary by loan program)

To apply, call Wells Fargo at 1-877-401-6974 or go online at https://apply.wellsfargo.com/student_datacollection. If you apply with a co-signer, both of you should have the following information ready beforehand. If your co-signer is not present with you when you sign on, you will need his or her information and permission to apply. (A co-signer may improve the likelihood of an approved application.)

• Social Security number(s)
• Personal reference(s) — including contact information
• Employment and income information — employer’s address and phone number, annual gross income, and previous employment information. (All students who apply on their own and all cosigners must complete this requirement.)
• Requested loan amount
• School information — name, city, state, your current grade level, and anticipated graduation date (Required of the student borrower)
• Residence information — status (own/rent) and monthly housing payment (All students who apply on their own and all co-signers must complete this.)

After you submit your application, it will be evaluated for pre-approval status. You will receive a response online within a few minutes. Be sure to record your application number for your reference.

Sallie Mae Smart Option Student Loan

Provided by Sallie Mae
888-2-SALLIE (888-272-5543) or https://www.salliemae.com/student-loans/smart-option-student-loan/

Interest Rates

• Rates from LIBOR + 2.00% (2.25% APR) to LIBOR + 9.88% (9.37% APR)
• 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments automatic debit
• Apply with a creditworthy cosigner and you may receive a lower rate

Loan Limits

• Borrow up to 100% of your school certified costs of education (minimum $1,000)

Fees

• No origination fees for degree-granting institutions
• No repayment fees

Repayment Terms

• Choose the repayment option that works for you while you are in school - defer all payments, pay just $25 a month, or pay interest
• Full principal and interest payments begin six months after you leave school for all repayment plans
• No prepayment penalty, regardless of the repayment plan you choose

Eligibility

• You must attend an eligible school and be enrolled in an eligible program. U.S. citizens enrolled in eligible study abroad programs or studying at medical schools outside the United States are also eligible. International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation. You must meet current credit and other eligibility criteria.

CitiAssist Loan

Provided by Citibank
800-967-2400 or www.studentloan.com

Interest Rate: Prime – 0.50% to + 4.50% (based on credit and presence of a co-signer)

Fees: None

Minimum Loan Amount: None

Citibank is pleased to offer Excelsior College students the CitiAssist Loan.  When the money you have for school doesn’t add up to the money you need, choose the CitiAssist Loan.  Each year, with the CitiAssist Loan, you can borrow up to the cost of education less any financial aid you receive.  There is no annual or minimum loan amount.  You may be enrolled as a full-time, half-time or less than half-time student.  CitiAssist can also be used to pay balances incurred within the last twelve months.  International students are able to apply with a credit worthy U.S. citizen or permanent resident co-signer.

CitiAssist gives you 100% of the amount you ask for.  There are no origination, guarantee or repayment fees.  CitiAssist offers flexible credit guidelines designed to accommodate a wide range of credit histories.  Your interest rate could be as low as Prime minus 0.50%.  Actual interest rate will be determined at the time of approval.

Unlike other loans, CitiAssist offers money savings repayment incentives.

• 0.25% interest rate reduction with Citibank E-Z Pay for borrowers who have their CitiAssist Loan payments automatically deducted from their bank accounts and receive electronic statements.
• 0.50% interest rate reduction for borrowers who make their first 48 consecutive monthly payments on time.

The CitiAssist Loan is deferred while the student is enrolled in school so no payments are required.    Repayment doesn’t begin until 6 months after the student graduates or leaves school, and the borrower can have up to 20 years to repay.  CitiAssist is a fast and easy application.  When you apply online at www.studentloan.com students and co-signers can apply and sign online and receive a credit response in three minutes or less.  CitiAssist offers a variety of repayment options to help students manage their finances including interest-only and forbearance options.  CitiAssist borrowers can have combined billing with their Citibank Stafford Loans to get the added convenience of one statement with a single payment for all.