for undergraduates

SayStudent Private Student Loan

When you Need
Money for College ... FAST!

That is when your —

• government student loans,
• scholarships,
• grants,
• and savings — don't add up to pay the full cost.
  
  

  And tuition - school supplies - costs for room and board are all due!

Turn to private student loans to help fund the remaining portion of education related expenses. You can get your money in as little as 5 business days.

You can borrow up to $30,000 ($40,000 for certain schools) and make no payments until after you graduate or leave school: see footnotes below

 

Loan Benefits
funding in as few as 5 business days from receipt of completed application — that's fast!
funds are disbursed directly to you, not the school — puts you in control!
ask about the rate reduction incentive benefit available to students — up to 0.50%
get your parent or another creditworthy adult to co-sign the application to improve your loan qualifications — cosigner release benefit — more information

Loan Limits
borrow annually up to $30,000 (or up to $40,000 for certain schools)1
$130,000 aggregate maximum borrowing limit; $1,500 minimum loan amount
use the loan to pay tuition, room and board, books, computer, studying abroad, travel home, and even past due balances: click to view college costs
loan amounts are not tied to any federal or college limits — no federal forms required
1 Borrow annually up to the lesser of the cost of attendance or $30,000 ($40,000 for certain schools where it has been determined that the annual cost of attendance exceeds $30,000).

Loan Advantages
no application fees or other out-of-pocket fees
preliminary approval in as little as 15 minutes if applying by web or phone
competitive interest rates and generous loan amounts: see rates
repayment may be deferred until after you graduate or cease to be enrolled at least half-time
no prepayment penalty with a SayStudent private student loan

Loan Eligibility
must be 18 years or older enrolled in a degree or certificate program at an approved school *
you must be attending at least half-time as defined by your school
proof of enrollment will be required
for students attending less than half-time: see continuing education program
* The applicant must be at least the age of majority in the state where he or she is a permanent resident at the time of the loan application, or at least 17 and apply with a qualified cosigner.  The legal age for entering into contracts is 18 years of age in every state except Alabama and Nebraska (19 years old), and Mississippi (21 years old).

Credit Guidelines
Note: many first-time students will need a qualified co-signer such as a parent or another creditworthy adult in order to qualify for the private student loan — see how best to qualify Borrowers must meet the credit requirements below:
have at least 21 months credit experience and a satisfactory credit history
have a satisfactory employment history of at least two years
if self-employed, verifiable business income for at least two years
proof of current income
have resided at your most current and immediately preceding addresses for a total of at least one year
U.S. citizen or permanent residence and have resided in the U.S. for the previous two years
international students can apply with a qualified, creditworthy US citizen or permanent resident cosigner

Repayment Options
immediate repayment: immediate repayment of principal and interest payments begin 30-60 days after the last funds disbursement.
interest-only payments: interest only payments for up to 4 consecutive years (5 years if enrolled in a five year program) while the student is continuously enrolled in school. Interest payments begin 30-60 days after the last funds disbursement. Repayment of principal and interest begins 30-60 days after graduation or if enrollment falls below half-time.
deferred principal & interest repayments: deferred principal and interest for up to 4 consecutive years (5 years if enrolled in a five year program) after the last funds disbursement while the student is continuously enrolled in school. Repayment of principal and interest begins 180 days after graduation or if enrollment falls below half-time.
repayment period: take up to 20 years to repay — minimum monthly payment as low as $25: see rate and repayment examples favorable repayment terms - no pre-payment penalties

Use to Pay Past Due Balances
the SayStudent Private Student Loan can be used to finance any portion of past due balances from previous academic periods
you don't have to be currently enrolled to cover past due balances
provide a copy of a current invoice that demonstrates a past due balance
apply for past due balances separately from a current or upcoming-year loan
the only repayment option available is "immediate repayment of both principal and interest" if you are not currently enrolled in college
U.S. citizen or permanent residence and have resided in the U.S. for the previous two years
international students can apply with a qualified, creditworthy US citizen or permanent resident cosigner

 

don't wait another minute!

finance your college future now!

 

 

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