Lewis & Clark College selected the following lenders for Private Loans based on the benefits offered to borrowers and the quality of their customer service. Compare the benefits as described by each lender and find the best fit for you, even if you do not currently have a banking relationship with that lender. Private loans allow you to borrow additional funds after you have reached your Federal Stafford Loan limit. These types of student loans are designed to help you meet the total cost of higher education. We strongly suggest you choose one of our recommended lenders to ensure fast and accurate service.
Please note that unless indicated otherwise on your loan application, funds will be divided evenly over your academic year.
| Lender
|
Access Group
|
Citibank
|
Education Finance Partners
|
Wells Fargo
|
Phone Number
|
800.282.1550
|
800.967.2400
|
866.308.1071
|
800.658.3567
|
Loan Servicer
|
Access Group
|
Citibank
|
ACS
|
Wells Fargo
|
| Loan Programs
|
Graduate Access
Law Access
Sponsored Access
Comprehensive Access
|
CitiAssist Undergraduate
CitiAssist Graduate
CitiAssist Law
|
Student as Borrower
Student with Co-Borrower
Sponsor as Borrower
|
Collegiate Loan
Graduate Loan
|
| Fees
|
No Fees
|
No Fees
|
Fees as low as 0%,
based on a borrower's credit history
|
No Fees
|
| Grace Period
|
9 months
|
Undergrad: 6 months
Graduate: 6 months
Law: 9 months
|
6 months
|
6 months
|
| Annual Loan Limits
|
Minimum: $1,000
Maximum: Up to cost of attendance less other financial aid received
|
Minimum: None
Maximum: Up to cost of attendance less other financial aid received
|
Minimum: None
Maximum: Up to cost of attendance less other financial aid received
|
Minimum: $1,000
Maximum: Up to cost of attendance less other financial aid received
|
| Aggregate Loan Limits
|
None
|
Undergraduates:$120,000
Graduates:$150,000
Law:Up to $180,000 for excellent credit
|
None
|
Collegiate:$120,000
Graduate:$120,000 (up to $180,000 for Law students)
|
| Loan Terms
|
20 years
|
20 years
|
20 years
|
Collegiate: 12 years
Graduate: 15 years
|
Interest Rates
|
3-Month LIBOR + 2.55% to 3-Month LIBOR + 6.45%
|
Prime minus 0.50% to Prime + 4.00%
|
As low as 3-Month LIBOR + 1.80%
|
Prime + 0.00% to Prime + 4.50%
|
| Maximum In School Deferment
|
10 years
|
Undergrad: 10 years
Graduate: 4 years
Law: 4 years
|
5 years
|
8 years
|
| Auto-Debit Discount
|
0.25% interest rate reduction for automatic payment
|
0.25% interest rate reduction for automatic payment
|
0.25% interest rate reduction for automatic payment
|
0.50% interest rate reduction for automatic payment from Wells Fargo account
0.25% interest rate reduction for automatic payment from a non-Wells Fargo account
|
| Repayment Benefits
|
0.50% interest rate reduction for borrowers who make their first 48 consecutive monthly payments on time
|
0.50% interest rate reduction for borrowers who make their first 48 consecutive monthly payments on time
|
None
|
0.50% interest rate reduction for borrowers who make their first 48 consecutive monthly payments on time
|
| Co-Signer Release
|
Release after 24 full, consecutive on time payments and borrower meets specific credit criteria
|
Release after 48 full, consecutive on time payments and borrower meets specific credit criteria
|
Release after 24 full, consecutive on time payments and borrower meets specific credit criteria
|
Release after 24 full, consecutive on time payments and borrower meets specific credit criteria
|
| Covers Past Due Balance
|
Comprehensive: Up to 120 days prior
Graduate/Law: No
|
Up to 12 months prior
|
Up to 12 months prior
|
Collegiate: Up to 12 months prior
Graduate: No
|
| Satisfactory Academic Progress Requirement
|
Yes
|
No
|
No
|
Collegiate: No
Graduate: Yes
|
| Bar Study Loan
|
Yes
|
Yes
|
No
|
Yes
|
| Licensure Only and Special Students
|
Comprehensive: Yes
Graduate/Law: No
|
Yes
|
Yes
|
Collegiate: Yes
Graduate: No
|
| Eligible to borrow if less than 1/2 time
|
Comprehensive: Yes
Graduate/Law: No
|
Yes
|
Yes
|
Yes
|
| International Students
|
Comprehensive: Yes, with eligible US citizen or permanent resident co-signer
Graduate/Law: No
|
Yes, with eligible US citizen or permanent resident co-signer
|
Yes, with eligible US citizen or permanent resident co-signer
|
Yes, with eligible US citizen or permanent resident co-signer
|
| Private Loan Consolidation
|
No
|
No
|
Yes
|
Yes |
