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Alternative Loans (Student) - Preferred Lender List

*Student Loan Sunshine Act

The Student Loan Sunshine Act was created to ensure that students have access to all lenders, including those not on the "Preferred Lender List". Methodist University abides by all provisions of the Student Loan Sunshine Act and supports student’s freedom to choose any lender. Methodist University has compiled the "Preferred Lender List" with careful consideration given to Students, the student-borrower and has selected lenders that are known to provide a high level of customer service as well as offering competitive borrower benefits. Should Students choose a lender not provided on Methodist University's preferred lender list, check with that lender to ensure they offer Federal Stafford Loans.

To apply for an Alternative Loan, select a lender from below and click the Apply Now! link or contact your chosen lender to obtain application instructions.

 

Lender
Phone and Web site

CITIASSIST Private Loan:

  • Available to U.S. citizen or permanent resident at least 18 years of age and must be creditworthy with satisfactory credit history that includes at 12 months of borrowing, charging, and paying
  • Applying with a creditworthy co-signer may increase your chance of approval and help you get a lower interest rate
  • Co-signer release option after 24 consecutive monthly principal and interest payments by the due date
  • Available for students attending full-time, half-time, or less
  • Available for International borrowers with a U.S. citizen or permanent resident co-signer
  • No fees
  • Interest rate: 3-Month LIBOR + 3.25% to 3-Month LIBOR + 11.00%
  • 0.25% interest rate reduction when you enroll in our auto-debit payment program
  • No payments while in school or during grace period; subject to maximum limits
  • 6 month grace period after graduation
  • A generous repayment term
  • Easy, secure online applications with e-signature capabilities
  • No Satisfactory Academic Progress (SAP) requirements

Apply Now!

Discover Certified Private Loan :

  • Interest Rate: Variable, Prime Index + 0.50% to Prime Index + 7.75%
  • 2% Graduation Reward
  • 0.25% Auto Debit Reward- interest rate reduction when enrolled in automatic payments
  • Zero application fees
  • Zero origination fees
  • Zero disbursement fees
  • Zero prepayment fees
  • No payments while enrolled in school at least half-time
  • Available to student enrolled full-time, half-time, and less than half time
  • 6 month grace period
  • Flexible repayment options available
  • Cosigner optional
  • Must be U.S. citizen or permanent resident and credit check is required

Apply Now!

Private Student Loans:

  • Competitive interest rates: 2.25% APR to 9.37% APR1
  • No origination fees1
  • Pay now or later: defer your payments until after school or choose an in-school repayment option that fits your needs
  • Borrow up to 100% of your school certified education costs (minimum $1,000)
  • Get a 2% Smart Reward in your Upromise account when you make scheduled monthly payments on time while in school2(Not available with Deferred Repayment Option)
  • Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payment by automatic debit3
  • Applying with a creditworthy cosigner may help you qualify and/or     receive a lower interest rate
  • You can apply for a cosigner release after you graduate and make 12 consecutive on-time principal and interest payments4
  • Applying is fast and easy: About fifteen minutes is all you need for our fast and easy, online application, featuring: Credit decision during the session and option to electronically sign (eSign)
  • Fifth Third Bank offers various other student banking products.
  • No Satisfactory Academic Progress (SAP) requirements  

 1,2,3,4 Visit http://web.53educationlending.com/defsoslterms.asp for additional information. Terms, conditions and limitations apply.

Apply Now!

National Education's Preferred Private Loan:

  • Zero Application Fee
  • Zero Origination Fee
  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
  • The borrower may apply for cosigner release after 36 consecutive payments and borrower meets minimum credit requirements at the time of request
  • A 0.50% interest rate reduction is available for automatic debit
  • Interest Rate: Variable, Prime + 0.2% - Prime +7.7%
  • No in-school payment required
  • Payment Options: Immediate, Interest only or Deferred
  • Zero pre-payment penalty

Apply Now!

888-272-5543

SallieMae.com

Smart Option Student Loan:

  • U.S. citizen or permanent resident
  • International students are eligible with a creditworthy co-signer, who is a U.S. citizen or permanent resident, as well the appropriate U.S. Citizenship and Immigration Service documentation
  • Zero Origination Fee
  • Zero Repayment Fee
  • Pay now or later - defer your payments until after graduation or choose an in-school repayment option that fits your needs.
  • Repayment Options: full interest payments while in school, $25 per month fixed payments while in school or no minimum payment required until after school.
  • Competitive interest rates - 2.25 % to 9.37% APR.
  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
  • The borrower may apply for cosigner release after graduation and have made 12 consecutive on-time principal and interest payments.
  • Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.
  • Easy online application and 24/7 online account management
  • Borrow up to 100% of school certified education costs (minimum $1,000).
  • New Free Tuition Insurance - covers up to $5,000 of tuition lost due to a covered medical withdraw (Available with loans that first disburse July 1 through October 31, 2011).
  • Get a 2% Smart Rewards in your Upromise account when scheduled monthly payments are made on time while in school (Not available with Deferred Repayment Option)
  • No Satisfactory Academic Progress (SAP) requirements

Apply Now!

800-552-3006

suntrusteducation.com

Custom Choice Loan:

  • U.S. citizen or permanent resident
  • Enrolled full-time and half-time
  • Choose a fixed or variable interest rate
  • Fees may apply, based on credit history
  • Six-month grace period after graduating or dropping below half-time enrollment
  • In-school deferment  is available based on credit history
  • Graduation Reward: 1% principal reduction per loan at graduation
  • 0.25% interest reduction for automatic withdrawl of payments from a bank account
  • No Satisfactory Academic Progress (SAP) requirements

Apply Now!

1-866-513-8445

          unionfederalstudentloans.com

Union Federal Private Student Loan:

  • Variable Rates range from LIBOR + 2.60% to LIBOR + 8.99%, currently 2.81 % to 9.20 %
  • Co-signer release after 36 on-time payments
  • Past-due balance option
  • Interest rate reductions for ACH auto debit during repayment and on time payments
  • International students may apply with eligible U.S. co-signer
  • Student loan protection in case death
  • Allows students to choose the number of years they want to repay the loan (5,10,or 15 years) and select from multiple repayment options (Fully Deferred Repayment, Interest Only Repayment, Partial Interest Repayment or Immediate Repayment)
  • No fees
  • No Satisfactory Academic Progress (SAP) requirements

Apply Now !

1-800-658-3567

wellsfargo.com

Collegiate Loan:

  • U.S. citizen, U.S. national, permanent resident alien without conditions, or international student who is a temporary alien with a current U.S. address and proper evidence of eligibility.  For permanent and temporary resident aliens, a U.S. citizen must co-sign the loan.
  • Variable interest rate with APR's as low as 3.40%
  • Fixed interest rate as low as 6.99%
  • No origination or repayment fees
  • Applying with a co-signer may reduce your interest rate
  • No payments while student is in school
  • Receive up to the total cost of education minus other aid
  • Multiple repayment options
  • Quick online application
  • Graduation Reward: Interest rate reduction of 0.50%
  • 0.25% interest rate reduction when you set up an automatic payment from a bank account
  • No Satisfactory Academic Progress (SAP) requirements

Apply Now!