Federal Grad PLUS Loan

Lenders For Your Consideration

How UAlbany Selects Lenders For Your Consideration Why UAlbany has Lenders For Your Consideration Am I required to use a Lender from Lenders For Your Consideration? Federal guidelines regulate the primary features of the Federal Grad PLUS Loan program, such as interest rates and repayment terms. However, there are differences in the services that lenders provide, including a variety of repayment options. We recommend that you borrow all your loans from one lender to simplify your repayment process.  Please be sure to borrow only what is necessary and take the time now to make the best financing decisions. Students can borrow from any lender that participates in the Federal Grad PLUS Loan program. Below are the names of Grad PLUS lenders you may wish to consider, from whom our student's have received exceptional customer service. It is not necessary to have a prior relationship with a lender to borrow a Grad PLUS loan. Bank of America ACS 1.0% default fee 1-800-835-1161   3.0% origination fee www.bankofamerica.com   0.25% interest rate reduction for having a Bank of America deposit account 831495   Automatic debit is not necessary to receive benefits     No need to sign up for the benefit, simply make 1st payment on-time     Benefits can not be lost once earned     No Payments While in School - Automatically defer principal and interest payments while you are enrolled at least half-time in a graduate or professional studies curriculum. Chase Chase 1.0% default fee 1-800-487-4404   3.0% origination fee www.chasestudentloans.com/   0.25% interest rate reduction for auto-debit 803000   No Payments While in School - defer principal and interest payments while you are enrolled at least half-time. Must be requested by contacting 1-800-849-5005 or by visiting http://cslservicing.com/ Citibank Citibank 1.0% default fee 1-800-967-2400   3.0% origination fee www.studentloan.citibank.com   0.50% automatic interest rate reduction at repayment for all borrowers 826878   0.25% interest rate reduction when borrower signs up for auto-debit payment program     Unlimited benefit recovery. Unlimited opportunities to earn your automatic rate reduction back if you ever miss a payment. You may regain the lost interest rate reductions by subsequently making 24 consecutive on-time monthly payments, anytime during the life of the loan.     No Payments While in School - Automatically defer principal and interest payments while you are enrolled at least half-time in a graduate or professional studies curriculum.     Interest Only Payment Option - Interest-only payments for either 24 or 48 months. Citizens Bank Nelnet 1.0% default fee 1-800-708-6684   3.0% origination fees www.citizensbank.com/edu   0.25% interest rate reduction for automatic payment deduction from any bank account 807745   Borrower must enroll in automatic payment deduction from any bank. This benefit can be lost due to 3 non sufficient funds within a 12 month period, or if the borrower stops automatic payments. Benefit may be reinstated if specific conditions are met.     No Payments While in School - Automatically defer principal and interest payments while you are enrolled at least half-time in a graduate or professional studies curriculum. When a borrower signs their MPN, they authorize automatic deferment while in-school. EdAmerica EdAmerica 1.0% default fee 1-800-337-1009   3.0% origination fee www.edamercia.net   0.25% interest rate reduction for auto-debit with continuous on-time payments 831453   No Payments While in School - Automatically defer principal and interest payments while you are enrolled at least half-time in a graduate or professional studies curriculum.     Life of loan servicing Key Bank Great Lakes 1.0% default fee 1-800-539-5363   3.0% origination fee www.key.com   0.25% interest rate reduction when a borrower enrolls in auto-debit payment program 811025   No Payments While in School - Automatically defer principal and interest payments while you are enrolled at least half-time in a graduate or professional studies curriculum.       Wachovia Education Finance Wachovia 1.0% default fee 1-800-338-2243   3.0 % origination fee www.wachovia.com   0.25% interest rate reduction with auto debit payments 830005   Graduate students can defer payments while enrolled at least half-time. Borrowers need to contact their repayment servicer (1-800-338-2243) to request the forbearance annually.