2005-2006 Alternative Loan Comparison Chart Duke University School of ...

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2005-2006 Alternative Loan Comparison Chart Duke University School of Law Loan Program Law Loans Access Group CitiAssist Loan Total Higher Education (T.H.E.) Law Achiever CLC Graduate Alternative Loan Loan Servicer Sallie Mae Access Group CitiBank Northstar Key Bank AES Phone 1.800.984.0190 1.800.282.1550 1.800.967.2400 1.888.843.3095 1.800.539.5368 1.888.972.9227 Website Apply online at www.salliemae.com Apply online at www.accessgroup.org Apply online at www.studentloan.com Apply online at www.theloanprogram.org Apply online at www.key.com/educate. Apply online at www.collegeloan.com/ Eligibility Requirements *Currently admitted or
enrolled in an ABA approved
law school at least half-time. *Enrolled at least half-time or
admitted to an ABA approved,
tax exempt school.*US
citizen/ national or eligible
non-citizen. *Must meet credit
criteria *US Citizen or permanent
resident *Enrolled at least part-
time, no half-time enrollment
required. * International
students are required to have a
US citizen or permanent
resident as a co-borrower. *Accepted for enrollment or
enrolled at least half-time.
*Making satisfactory progress
in eligible programs.*Must be
U.S. citizen or national or
eligible non-citizen. *Half-time or full-time
students attending an ABA
approved law school or
admitted to a JD or joint law
degree program. *Must be US
citizen or an eligible non-
citizen with satisfactory credit
history. Must be a graduate student
enrolled at least half time in a
degree or certificate program
at a school approved by the
guarantor of this program, The
Education Resources Institute,
Inc. (TERI)
Must be making satisfactory
academic progress
International students may
apply with a U.S. citizen or
permanent resident co-signer Annual Minimum $500 $1,000 Cost of attendance minus financial aid. $500 $500 $1,000 Aggregate Limit None with a co-borrower,
$150,000 without a co-
borrower, (includes all student None $150,000 $180,000 $130,000 Up to $225,000 Interest Rate Prime Rate 3 month LIBOR + 2.75% or 3.95%, adjusted quarterly, depending upon creditworthiness of borrower. Prime + 0.0% 3 month LIBOR plus 2.75%. In school: 3 month LIBOR + 2.3%. At repayment: 3 month LIBOR + 2.20%, 2.45%, or 3.10% depending on payment option selected. Rate is variable; adjusted
quarterly
LIBOR Index + 4.20%
credit-worthy
LIBOR Index + 5.25%
credit-ready Loan Fees 0.00% at disbursement; 5.00% at repayment without co- signer. None None None 5.50% at disbursement. 1.50% at repayment. Loan Fees: from 0% to 4% of
the total loan amount
(depending on
creditworthiness of the
borrower and co-borrower, if
any) Repayment Period Up to 25 years. Up to 20 years. Up to 15 years. Up to 15 years. Up to 25 years. Up to 20 years to repay (25
years for loans of $40,000 or Grace Period 9 months 9 months 6 months 9 months 9 months 6 months Borrower Benefits *.25% interest rate discount
for auto debit.
*When TLP loan borrowers
make their first 48 scheduled
montly payments on-time,
they earn a half percentage
point interest rate reduction
on each eligible loan.
*Co-signer release option
available. *.25% interest rate discount
for auto debit. *When TLP
loan borrowers make their first
48 scheduled montly payments
on-time, they earn a half
percentage point interest rate
reduction on each eligible
loan.*Co-signer release option
available *No prepayment
penalty. *.25% interest rate discount
for auto debit.
*Co-signer release option
available *When TLP loan
borrowers make their first 48
scheduled montly payments on-
time, they earn a half
percentage point interest rate
reduction on each eligible
loan. **T.H.E. Bonus is currently
paid as a monthly credit equal
to annualized 1.0% interest
rate reduction for all
borrowers in repayment and
less than 60 days delinquent.
For more details visit
www.northstar.org/Law/Repa
ymentBonus.aspx *Flexibility in repayment
terms. *Select II: make interest
only payments for the first two
years. Remaining principal
spread over the balance of
term. *One-time capitalization
at repayment only. *.25%
reduction of interest rate with
auto debit. Competitive rates
Easy application process
Quick delivery of funds via
EFT or check
Medical students can receive
a 2nd deferment of up to four
years, subject to the eight year
program maximum deferment
period
Combined billing with
federal loans available through
AES

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