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.

Private Loan Commonly Used Lenders

Lender	Servicer
	Wachovia

Lender Code:

83000500

Default Fee:

0.00%

Origination Fee:

0.00%

Interest Rate Reduction:

0.50% interest rate reduction with auto-debit payments

Principal Reduction:

None

Rebates:

None

Other Benefits:

Rates as low as Prime minus 0.5% for qualifying borrowers

No fees for origination, disbursement or repayment

Cover past-due balances up to three years old

Quick online application with instant loan decision

Free student checking with online bill pay

No payments until 6 months after you graduate

Multiple repayment options

No minimum income or employment requirements

Borrow up to $150,000 for graduate school

Lender	Servicer
	Sallie Mae

Lender Code:

90090500

Default Fee:

0.00%

Origination Fee:

0.00%

Interest Rate Reduction:

0.50% interest rate reduction for payments made by auto debit

Principal Reduction:

None

Rebates:

None

Other Benefits:

Zero Fees

Competitive pricing that rewards creditworthiness - LIBOR + 2.5% to + 7.5%

No Income Requirement

Co-Signer release available after first 24 on-time payments of principal and interest

Repayment begins six months after graduation

One monthly billing statement for all loans owned and serviced by Sallie Mae

24 x 7 Account Access through Manage Your Loans (www.manageyourloans.com)

Sallie Mae's Upromise Loan Link service can help students and families pay down student loans.

Minimum Loan Amount: $500

Annual Loan Amount: Cost of education less financial aid

Repayment term is 15 years, with option to extend up to 30 years

International students are eligible to apply with a credit worthy U.S. cosigner (must be a U.S. citizen or permanent resident) and applicable CIS documents

Lender	Servicer
	Wells Fargo

Lender Code:

80717600

Default Fee:

0.00%

Origination Fee:

0.00%

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:

• Cosigner release after the first 24 consecutive on-time monthly payments.

• High quality service throughout a student’s borrowing experience.

• Combined billing of Federal Stafford, Federal PLUS, and Wells Fargo private loans.

• Free Wells Fargo College Checking® account, Online Banking, and Bill Pay.

• Cosigners can initiate an application — Many times cosigners are the ones most involved in the loan application process. Wells Fargo makes it easy for them to start a phone application that a student can complete later.

• Upperclassmen may apply on their own — Most students will need a cosigner for this loan; however, select applicants with strong credit histories applying as junior, senior or graduate students may be eligible for a loan without a cosigner and with no minimum income requirement. Schools certify the student’s grade level and discrepancies may affect an applicant’s eligibility for this feature.

• Temporary resident aliens may borrow up to $25,000 annually. The minimum loan amount is $1,000. Permanent and temporary resident aliens must have a U.S. citizen cosigner. U.S. citizens may have a cosigner who is a U.S. citizen or a permanent resident alien.

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.