Missouri Baptist University

Welcome to LoanConnect!

The Commonly Used Lender List was created based on particular services and benefits each lender provides and that the Financial Aid Office considers important.

You may compare selected lenders by checking the box next to the particular lenders and hit the 'Compare' button. Once you have made your decision, select the 'Apply' button next to the lender to start the application process.

Before applying for a private loan, it is highly recommended that you first apply for Direct Stafford Loans and Direct PLUS Loans (if applicable). Private education loan terms and conditions may be less favorable than Stafford and PLUS loans. Please also make sure you have completed the Free Application for Federal Student Aid (FAFSA) for the year in which you are applying for loans – you may be eligible to receive federal grants which would not have to be repaid.






     Private Loan Commonly Used Lenders

Lender   Servicer      

Lender Code:  90091700 		  Sallie Mae      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit 5
Principal Reduction: None
Rebates:
Smart RewardSM - earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school 4
Other Benefits:
• Market-leading interest rates - LIBOR + 2.50% (2.87% APR) to LIBOR + 10.875% (10.48% APR) 1
• No origination fees 2
• Save hundreds - even thousands - of dollars over traditional 15-year payment-deferred private student loans
• Flexible repayment options - choose affordable fixed payments of $25 a month or make full interest payments to save even more 3
• Applying with a creditworthy cosigner may help you qualify for and/or receive a lower interest rate
• You can apply to release your cosigner just 12 months after the separation period and making 12 consecutive on-time principal and interest payments 6
• Borrow what you need - up to 100% of your education costs 7
1,2,3,4,5,6,7 Visit www.SallieMae.com/SOTerms for additional information. Terms, conditions and limitations apply.
Lender   Servicer      

Lender Code:  80992100 		  AES      
View Benefit Details
 
Origination Fee: 0-6% (based on credit review)
Interest Rate Reduction:
0.25% interest rate reduction for automatic payments
Principal Reduction: None
Rebates: None
Other Benefits:
Interest Rate: LIBOR+ 2.25% to 8%, depending on credit rating of borrower/cosigner
Cosigner release option after 24 payments
Borrowers with strong credit are eligible to receive loans with no loan fees.
Minimum: There is a one time minimum loan amount of $1,000.
Maximum: Cost of attendance minus other aid
Can be used for less than half-time enrollment and/or non-degree programs
Applying with a co-signer will increase the chances of approval and increase the chances of obtaining a lower interest rate and/or fees.
Up to 20 year repayment
6 months grace period
Loan can be used for past due balances within 90 days of the end of the term
In school deferment option available
Never a prepayment penalty
Must be U.S. Citizen or permanent resident
Must be at least 18 years of age
Lender   Servicer      

Lender Code:  90090200 		  Sallie Mae      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
A 0.25 percentage point interest rate reduction is available for automatic debit 5
Principal Reduction:
Smart Reward sm: Earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school 4
Rebates: None
Other Benefits:
• Pricing that rewards creditworthy borrowers
• Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
• You can apply to release your cosigner just 12 months after the separation period and making 12 consecutive on-time principal and interest payments 3
• Interest-only payments required while in school and during the six-month separation period to avoid capitalization of interest and lower the overall cost of the loan
• Flexible repayment options—choose affordable fixed payments of $25 a month or make full interest payments to save even more 8
• No origination fees 9
• Easy online application with fast credit decision and electronic signature ("eSign") available
• 24/7 online account management
• No prepayment penalty
• You may be able to deduct the interest you pay on a qualified student loan 6
• International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and applicable CIS documents
1,2,3,4,5,6,7,8,9 Visit www.Regions.com/SmartTerms for additional information. Terms, conditions and limitations apply.
Lender   Servicer      

Lender Code:  90090500 		  Sallie Mae      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit 5
Principal Reduction: None
Rebates:
Smart RewardSM - earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school 4
Other Benefits:
• Market-leading interest rates - LIBOR + 2.50% (2.87% APR) to LIBOR + 10.875% (10.48% APR) 1
• No origination fees 2
• Save hundreds - even thousands - of dollars over traditional 15-year payment-deferred private student loans
• Flexible repayment options - choose affordable fixed payments of $25 a month or make full interest payments to save even more 3
• Applying with a creditworthy cosigner may help you qualify for and/or receive a lower interest rate
• You can apply to release your cosigner just 12 months after the separation period and making 12 consecutive on-time principal and interest payments 6
• Borrow what you need - up to 100% of your education costs 7
1,2,3,4,5,6,7 Visit www.SallieMae.com/SOTerms for additional information. Terms, conditions and limitations apply.
Lender   Servicer      

Lender Code:  91135300 		  AES      
View Benefit Details
 
Origination Fee: 0-6% (based on credit review)
Interest Rate Reduction:
A 0.25% rate reduction if you choose automatic payments 2
Principal Reduction:
A 1% principal reduction on every SunTrust Custom Choice loan upon graduation 1
Rebates: None
Other Benefits:
Choice of Fixed or Variable Rate Loan
Choice of Repayment Option
Choice of Repayment Terms
Release the cosigner's responsibility by making the first 48 payments on time 3
Borrow up to the cost of education minus financial aid received
Online application takes as little as 15 minutes
See estimated repayment amounts calculated in real-time and compare loan options side-by-side before making your final decision
E-signature available
No prepayment penalty
Loans are not currently sold
1 Proof of graduation must be submitted within 90 days of graduation. Certified copy of diploma is acceptable. 1% principal reduction is based on the fully disbursed loan amount.
2 To qualify, the student must arrange with the loan servicer to automatically deduct monthly principal and interest payments from a bank account. Refer to the Credit Agreement for further details on this borrower benefit.
3 Cosigner can be requested to be released after the first 48, consecutive on-time payments of principal and interest are made and other requirements (as disclosed in the Credit Agreement) are met.
Lender   Servicer      

Lender Code:  83069400 		  U.S. Bank No Fee Education Loan      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
0.50% interest rate reduction for auto-pay
Principal Reduction: None
Rebates: None
Other Benefits:
Zero fees - No front-end or back-end fees
Co-signer release option
International students with U.S. Social Security Number may apply with co-signer who is a U.S. citizen or permanent resident
"Look Back" feature - borrow for previous debt owed to school
May be enrolled less than half-time
No co-signer required if sufficient credit history
Payment deferred while in-school with 6 month grace period after graduation
Satisfactory academic progress not required
Standard, graduated, and/or income sensitive repayment plans available
Lender   Servicer      

Lender Code:  80717600 		  Wells Fargo      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
0.25% interest rate reduction when Wells Fargo automatically withdraws payments from a personal checking or savings account at repayment
Wells Fargo Student Graduation BenefitSM: 0.50% interest rate reduction at repayment upon verification of graduation (on loans disbursed on or after July 1, 2008)
Principal Reduction: None
Rebates: None
Other Benefits:
• Wells Fargo Collegiate Loan: Index + 0.25% to Index + 6.74%
• Undergraduate and Graduate students can apply
• Zero Fees: No origination, disbursement or repayment fees
• No payments are required while a student is in school (up to seven years) and for up to six months after graduation or leaving school
• Cosigner release after 24 consecutive on-time monthly payments - minimum credit guidelines must be met at the time of the request
• Before you borrow, learn more about private student loans. Go to http://wfefs.wellsfargo.com/jump/PrivateLoanGuide.pdf to help you get started.
• Free Wells Fargo College Checking® account, Online Banking, and Bill Pay
• With Wells Fargo, you'll get high quality service throughout your borrowing experience.
• One place for all your financial needs. Wells Fargo offers banking products and services, such as the College Combo®, a suite of banking accounts and services designed for college students.
• Wells Fargo offers Private Loan Consolidation
Lender   Servicer      

Lender Code:  90095200 		  Sallie Mae      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit 5
Principal Reduction:
Smart RewardSM - earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school 4
Rebates: None
Other Benefits:
• Market-leading interest rates - LIBOR + 2.50% (2.87% APR) to LIBOR + 10.875% (10.48% APR) 1
• No origination fees 2
• Save hundreds - even thousands - of dollars over traditional 15-year payment-deferred private student loans
• Flexible repayment options - choose affordable fixed payments of $25 a month or make full interest payments to save even more 3
• Applying with a creditworthy cosigner may help you qualify for and/or receive a lower interest rate
• You can apply to release your cosigner just 12 months after the separation period and making 12 consecutive on-time principal and interest payments 6
• Borrow what you need - up to 100% of your education costs 7
1,2,3,4,5,6,7 Visit www.SallieMae.com/SOTerms for additional information. Terms, conditions and limitations apply.
Lender   Servicer      

Lender Code:  90090100 		  Sallie Mae      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit 5
Principal Reduction:
Smart RewardSM—earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school 4
Rebates: None
Other Benefits:
• Market-leading interest rates—LIBOR + 2.50% (2.87% APR) to LIBOR + 10.875% (10.48% APR) 1
• No origination fees 2
• Flexible repayment options—choose affordable fixed payments of $25 a month or make full interest payments to save even more 3
• Applying with a creditworthy cosigner may help you qualify for and/or receive a lower interest rate
• You can apply to release your cosigner just 12 months after the separation period and making 12 consecutive on-time principal and interest payments 6
• Borrow what you need—up to 100% of your education costs 7
1,2,3,4,5,6,7 Visit Salliemae.com/SOTerms for additional information. Terms, conditions and limitations apply.
Lender   Servicer      

Lender Code:  50300000 		  Chase SelectSM Private Loan      
View Benefit Details
 
Origination Fee: 0%
Interest Rate Reduction:
0.25% interest rate reduction for borrowers who have their monthly payments automatically deducted from a bank account.*
Principal Reduction: None
Rebates: None
Other Benefits:
No origination or repayment fees
Please visit www.ChaseSelect.com for current interest rates.
In many cases, lower rates may be obtained by applying with a qualified cosigner and it may also improve your chances of approval.
Cosigner release option available after 36 on-time consecutive payments. Borrower must meet credit criteria at time of release.
*The 0.25% interest rate reduction is available to borrowers in repayment who elect to have their monthly payments automatically deducted from a bank account by Chase. This interest rate reduction will begin when the borrower enrolls and begins having payments automatically deducted by Chase and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to the non-discounted rate if automatic payments are canceled, rejected or returned for any reason or during periods of deferment or forbearance. The 0.25% interest rate reduction will not lower the monthly payment amount but will instead reduce the interest that accrues, thereby reducing the total amount repaid and the time in which the loan is repaid.
Chase currently holds and does not sell its Chase Select Private Student Loans. Terms and conditions apply. Chase Select Private Student Loans are subject to credit approval, receipt of a completed and signed loan application/promissory note and self-certification form, verification of application information, acceptance of loan terms, school certification of loan amount and, as applicable, other required documentation and verification. The borrower benefits listed above are offered to Chase Select Private Student Loan borrowers attending a participating school during the stated Academic Year and are not contingent upon Chase being selected for placement on a school’s preferred lender list. Nothing herein shall be construed as an agreement on the part of Chase to make loans available to or on behalf of particular students and Chase retains complete authority and discretion with regard to whether to provide such loans. Offered borrower benefits, interest rates and other loan product terms and features are subject to change at Chase’s discretion. This information was current as of 3/25/2010 and is subject to change. You can find rate, fee and other cost information, as applicable, at https://apply.chase.com/edfi/ApplicationDisclosure.aspx.
Lender   Servicer      

Lender Code:  82687800 		  Citi, The Student Loan Corporation      
View Benefit Details
 
Origination Fee: 0 or 3%
Interest Rate Reduction:
0.25% interest rate reduction when you enroll in our auto-debit payment program
Principal Reduction: None
Rebates: None
Other Benefits:
Interest Rate as low as LIBOR + 3.25% or as high as LIBOR + 11.00% (Depending on credit rating of borrower/cosigner)
Cosigners may be released after 24 consecutive on-time monthly payments.
Borrowers with strong credit are eligible to receive loans with no loan fees.
Minimum: There is a one time minimum loan amount of $1000. No minimum loan amount is required on subsequent CitiAssist loans.
Maximum: Cost of attendance minus other aid.
Available for students enrolled less than half-time, half-time or full-time and/or non-degree programs.
Option to apply with a creditworthy cosigner may increase a borrower's chance of approval and a lower interest rate.
Up to 15 or 20 year repayment.
No payments required while in school or during the 6 month grace period.
Identity theft assistance for all Citibank borrowers.
Available for international students who apply with an eligible U.S. citizen or permanent resident cosigner.
Offer a variety of online tools and calculators to help you successfully manage your private student loans.

It is each lender’s responsibility to notify MOHELA when the above benefits change. MOHELA is not responsible for determining the validity of the information the lenders supply. The lenders listed have the right to modify, expand, or discontinue borrower benefits at any time without notice.

Rates are reviewed annually on July 1. Rate Relief and Public Service Benefits are offered exclusively by MOHELA in conjunction with its Lender-Partners and are available to eligible borrowers in repayment whose loans are owned and serviced by MOHELA. These benefits are not applicable to loans placed in Consolidation. These benefits do not lower the monthly payment, but rather reduce the amount of interest that accrues and results in more dollars being applied to the principal balance of the loan. MOHELA may discontinue offering these benefits to any borrower whose account becomes delinquent or in the event an auto debit is terminated for any reason. Loans guaranteed by Missouri state guarantee agency may qualify for an increased level of Rate Relief.

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