PLUS Loan and Alternative Loan Comparison Chart
Law and Graduate Students

Federal PLUS Loan (Various lenders)
Web Site: www.hamline.edu/fa

Eligibility:
Graduate students enrolled at least half-time in a degree seeking program.

Loan Limits: Up to the school's cost of attendance less any other financial aid received.

Interest Payment: Repayment of loan begins 60 days after the final disbursement if loan.

Interest Rate: 8.50%.

Insurance/
Guarantee Fee: Oriniation fee 3.00%.
Default fee up to 1.00% at disbursement.

Repayment: Repayment of loan begins within 60 days of final disbursement of loan funds.

Up to 10 years.
$50 monthly minimum.

Forbearance may be availible while in school.

Offer Bar
Study Loan: No

Co-sign
Release: No

Part Due
Balance: No

Access Group
Web Site: www.accessgroup.org

Eligibility: All credit ready law and graduate students, U.S. citizen or eligible non-citizen.

Must be at least half time in a degree-seeking program.

Loan Limits: Minimum Annual:
$1000

Maximum Annual:
Cost of education less other aid
Aggregate Maximum:
None

Interest Payment: May be deferred while in school.
Capped at repayment.

Interest Rate: 3 month Libor plus 2.5%-6.45%

Insurance/
Guarantee Fee: 0-6% at repayment based on past credit history.

Repayment: Repayment begins 9 months after graduation, withdrawal, or if enrollment drops below half-time.

Up to 20 years.
$50 monthly minimum.

Offer Bar
Study Loan: Yes ($15,000)

Co-sign
Release: No

Part Due
Balance:
No

Bremer Bank Education Loan
Web Site: www.bremer.com

Eligibility:	All credit ready or credit worthy law and graduate students, or with credit worthy co-signer.
Loan Limits:	Minimum Annual: $500 Maximum Annual: Cost of education less other aid Aggregate Maximum: None
Interest Payment:	May be deferred while in school.
Interest Rate:	Prime Rate + 1-3%
Insurance/ Guarantee Fee:	0-5% added to principal amount borrowed.
Repayment:	Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time. Up to 15 years. $50 monthly minimum.
Offer Bar Study Loan:	No
Co-sign Release:	Yes
Part Due Balance:	Yes (12 months)

CitiBank CitiAssist Loan
Web Site: www.studentloan.com/schools/hamline

Eligibility:	All credit worthy law and graduate students, or with credit worthy co-signer.
Loan Limits:	Minimum annual: None Maximum Annual: Cost of education less other aid Aggregate Maximum: $150,000
Interest Payment:	May be deferred while in school. Capped at repayment.
Interest Rate:	Prime Rate minus 0.50%-4.0%
Insurance/ Guarantee Fee:	None
Repayment:	Repayment begins 6 months after graduation or withdrawal. Up to 20 years. $50 monthly minimum.
Offer Bar Study Loan:	Yes ($11,000)
Co-sign Release:	Yes
Part Due Balance:	Yes (12 months)

State of MN SELF Loan
Web Site: www.selfloan.org

Eligibility:	Credit worthy co-signer required. Must be at least half time in a degree seeking program.
Loan Limits:	Minimum annual: $500 Maximum Annual: $9000 Aggregate Maximum: $55,000
Interest Payment:	Quarterly interest payments required while in school.
Interest Rate:	Variable based on Libor + a margin. No cap.
Insurance/ Guarantee Fee:	None
Repayment:	Repayment of principal and interest begins 12 months after graduation, withdrawal, or if enrollment drops below half-time. Up to 10 years. $50 monthly minimum.
Offer Bar Study Loan:	No
Co-sign Release:	No
Part Due Balance:	No

U.S. Bank Graduate Education Loan
Web Site: www.usbank.com/sl/hamline

Eligibility:	All credit ready or credit worthy law and graduate students, or with a credit worthy co-signer.
Loan Limits:	Minimum annual: $1000 Maximum Annual: Cost of education less other aid. Aggregate Maximum: $100,000.
Interest Payment:	May be deferred while in school. Capped at repayment.
Interest Rate:	Prime Rate + 0%
Insurance/ Guarantee Fee:	4% if creditworthy or with creditworthy co-signer at disbursement. 9% if credit ready at disbursement.
Repayment:	Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time. Up to 15 years. $50 monthly minimum.
Offer Bar Study Loan:	Yes ($7000)
Co-sign Release:	No
Part Due Balance:	Yes (6 months)

Wells Fargo Graduate Loan
Web Site: www.wellsfargo.com

Eligibility:	All credit worthy law and graduate students, or with a credit worthy co-signer.
Loan Limits:	Minimum annual: $1000 Maximum Annual: Cost of Education Less Other Aid Aggregate Maximum: $180,000 (Law)
Interest Payment:	May be deferred while in school. Capped at repayment.
Interest Rate:	Without a co-signer: Prime Rate + 0%, 1.5% or 3.5% Based on credit. With co-signer: Prime Rate + 2.50%
Insurance/ Guarantee Fee:	None
Repayment:	Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time. Up to 15 years. $50 monthly minimum
Offer Bar Study Loan:	No
Co-sign Release:	Yes
Part Due Balance:	Yes (12 months)

Wachovia Education Loan
Web Site: www.wachovia.com/education

Eligibility:	All credit ready or credit worthy law and graduate students, or with a credit worthy co-signer.
Loan Limits:	Minimum annual: $500 Maximum Annual: Cost of Education Less Other Aid
Interest Payment:	May be deferred while in school.
Interest Rate:	Prime Rate minus 1%
Insurance/ Guarantee Fee:	None
Repayment:	Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time. Up to 20 years. $50 monthly minimum
Offer Bar Study Loan:	No
Co-sign Release:	Yes
Part Due Balance:	Yes (36 months)

To request alternative loan applications please contact the Office of Financial Aid.

Most alternative loan applications will be available after May 1, 2007.

Prime Rate = 8.25.%, 91 day T-Bill Rate = 5.00%, Libor Rate = 5.38% as of 01/20/07.

Please note: the above information does not constitute the endorsement of any lender by Hamline University. Contact lender for more recent information.

Information contained herein was correct as of January 20, 2007.

Hamline University
1536 Hewitt Avenue
Saint Paul, MN 55104-1284
U.S.A.
651-523-2800

PLUS Loan and Alternative Loan Comparison ChartLaw and Graduate Students

PLUS Loan and Alternative Loan Comparison Chart
Law and Graduate Students