| $ |
FEDERAL PLUS
LOAN
(various lenders) |
BREMER BANK
EDUCATIONAL
LOAN
|
CITIBANK CITIASSIST LOAN
|
WELLS FARGO COLLEGIATE
LOAN
|
U.S. BANK
GAP LOAN
|
STATE OF MN SELF LOAN
|
WACHOVIA EDUCATION LOAN |
| WEBSITE |
www.hamline.edu/fa |
www.bremer.com |
www.studentloan.com
/schools/hamline |
www.wellsfargo.com |
www.usbank.com
/sl/hamline
|
www.selfloan.org |
www.wachovia.com
/education |
| ELIGIBILITY |
Parents of at least half-time undergraduate students enrolled in a degree seeking program. |
All credit ready or credit worthy Undergraduate students, or with credit worthy co-signer. |
All credit worthy Undergraduate students, or with credit worthy co-signer. |
All credit worthy Undergraduate
students or with credit worthy co-signer. |
All credit ready or credit worthy Undergraduate students, or with credit worthy co-signer. |
Credit worthy co-signer required.
Must be at least half-time in a degree seeking program. |
All credit ready or credit worthy Undergraduate students, or with credit worthy co-signer. |
| LOAN LIMITS |
Up to the school's "Cost of attendance" less any other financial aid received. |
Minimum Annual: $500
Maximum Annual:
Cost of
Education Less
Other Aid
Aggregate Maximum.
None |
Minimum Annual:
None
Maximum Annual:
Cost of
Education Less
Other Aid
Aggregate Maximum.
$120,000 |
Minimum
Annual:
$1000
Maximum
Annual:
Cost of
Education Less
Other Aid OR $25,000 which ever is less.
Aggregate Maximum.
$120,000 |
Minimum
Annual:
$1000
Maximum Annual:
Cost of
Education Less
Other Aid
Aggreate Maximum: $100,000. |
Minimum Annual:
$500
Maximum Annual:
$7500
(Effective 7/1/07)
Aggregate Maximum.
$55,000 |
Minimum
Annual: $500
Maximum
Annual:
Cost of
Education Less
Other Aid |
INTEREST
PAYMENT |
Repayment of loans begins within 60 days after final disbursement of loan. |
May be deferred while in school. |
May be deferred while in school.
Capped at repayment. |
May be deferred
while in school.
Capped at
repayment. |
May be deferred while in school.
Capped at repayment. |
Quarterly interest payments required while in school. |
May be deferred while in school.
|
INTEREST
RATE |
8.50%. |
Prime Rate
+ 1-3% |
Prime minus
- 0.50%- 4.0% |
Prime Rate + 0%-4.50%
Based on credit |
In-school and Grace:
91 Day T-bill + 2.50%
Repayment:
91 Day T-bill + 3.50% |
Variable based on Libor plus a margin.
No cap. |
Prime Rate
minus 0% |
INSURANCE/
DEFAULT
FEE |
Origination Fee 3%
Default Fee Up to 1% at disbursement. |
0-5% added to principal amount borrowed. |
None |
None |
4% if creditworthy or with creditworthy co-signer.
8% if credit ready at disbursement. |
None |
None |
| REPAYMENT |
Repayment of loans begins within 60 days after final disbursement of loan funds.
Up to 10 years.
$50 monthly minimum. |
Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time.
Up to 15 years.
$50 monthly minimum. |
Repayment begins 6 months after graduation or withdrawal.
Up to 20 years.
$50 monthly minimum. |
Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time.
Up to 12 years
$50 monthly minimum. |
Repayment begins 6 months after graduation, withdrawal, or if enrollment drops below half-time.
Up to 15 years.
$50 monthly minimum. |
Repayment of principal and interest begins 12 months after graduation, withdrawal, or if enrollment drops below half-time.
Up to 15 years from 1st
disbursement.
$50 monthly minimum. |
Repayment of principal and interest begins 6 months after graduation, withdrawal, or if enrollment drops below half-time.
Up to 20 years.
$50 monthly minimum. |
CO-SIGN
RELEASE |
No |
Yes |
Yes |
Yes |
No |
No |
Yes |
PAST DUE
BALANCE |
No |
Yes
(12 months) |
Yes
(12 months) |
Yes
(12 months) |
Yes
(6 months) |
No |
Yes
(36 months) |
