Lender Specific Disclosures

Lender Specific Disclosures

Sallie Mae

Disclosures –

Advertised rates and other loan information are for the Sallie Mae® Smart Option Student Loan® for undergraduates.

Borrow Responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

This loan is for undergraduate students at participating degree-granting schools. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

2. Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

3. This promotional benefit is provided at no cost to borrowers with undergraduate or parent loans with a first disbursement between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.

4. Loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

5. Based on a comparison of approval rates for Sallie Mae Smart Option Student Loans for Undergraduate Students who applied with a cosigner versus without a cosigner during a rolling 12-month period from May 1, 2020 through April 30, 2021.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Information advertised valid as of 9/27/2021.

Smart Option Student Loans® are made by Sallie Mae Bank.

Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

TuitionChart is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae Loan customers. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

 

Discover Student Loans

1. Get a cash reward on each new Discover undergraduate and graduate student loan when you earn at least a 3.0 GPA (or equivalent) in any academic period covered by the loan. Limitations Apply. Visit DiscoverStudentLoans.com/Reward for terms and conditions.

2. Visit DiscoverStudentLoans.com/Reward for terms and conditions.

Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for undergraduate loans, and include an interest-only (https://www.discover.com/student-loans/interestonly) repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments. The interest rate ranges represent the lowest and highest interest rates offered on the Discover Undergraduate Loan. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is 0.250% as of April 1, 2021. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Your APR will be determined after you apply. Learn more about Discover Student Loans interest rates at DiscoverStudentLoans.com/Rates.

College Ave Student Loans

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

1. As certified by your school and less any other financial aid you might receive. Minimum $1,000.

2. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

3. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 10/21/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

 

Wells Fargo Student Loan

Rates displayed are the Wells Fargo Collegiate® Loan rates for undergraduate students attending traditional four-year schools. Other products, rates and terms are available.

  1. The lowest quoted Annual Percentage Rate (APR) includes a customer interest rate discount of 0.25% for having a prior student loan with Wells Fargo or a qualifying Wells Fargo consumer checking account. Variable interest rates are based on an Index, plus a margin. The Index is equal to the Prime rate published in The Wall Street Journal. The APR for a variable rate loan may increase during the life of the loan if the index increases. This may result in higher monthly payments. Rates are current as of 06/15/2019 and subject to change without notice. Wells Fargo reserves the right to change rates, terms, and fees at any time. Your actual APR will depend upon your credit transaction and credit history, and will be determined when a credit decision is made.
  2. Discount eligible during application: You may qualify for a relationship interest rate discount if you or your cosigner (if applicable) has any of the following with Wells Fargo prior to your Final Loan Disclosure being issued:
    • Portfolio by Wells Fargo® relationship — 0.50% discount
      Portfolio by Wells Fargo® relationship checking accounts: Private Bank Checking, Private Bank Dividend Checking, Private Bank Interest Checking, Wells Fargo Portfolio Checking, Wells Fargo Prime Checking®.
    • A qualifying Wells Fargo consumer checking account — 0.25% discount
      Wells Fargo consumer checking accounts: Complete Advantage® Checking, Crown Banking® Checking, Custom Management® Checking, Gold Package® Checking, Opportunity Checking®, Premium Membership® Checking, Way2Save® Checking, Wells Fargo College Checking®, Wells Fargo Everyday Checking, Wells Fargo Preferred Checking, Wells Fargo At WorkSM Checking.
    • A prior federal or private student loan made by Wells Fargo — 0.25% discount (prior Wachovia federal student loans are not eligible).

    Only one qualifying relationship discount will apply. You will receive the applicable discount for the life of the loan.

    Discount eligible during repayment:

    • Automatically withdrawn payment discount – You may qualify for a 0.25% interest rate discount during repayment if you set up automatically withdrawn payments (via ACH), directly with Wells Fargo Education Financial Services (EFS), from a designated deposit account. This discount does not apply to bill pay or automatic transfers not set up directly with Wells Fargo EFS. If the automatic payment is canceled at any time after repayment begins, the discount will be lost until automatic payment is reinstated. The 0.25% interest rate reduction is effective the day after the first payment is made using automatic withdrawal during the repayment period. The discount reduces the amount of interest you pay over the life of the loan. The automatic payment discount may not change your monthly payment amount depending on the type of loan you receive, but may reduce the number of payments or the amount of your final payment. ACH payments and discounts will discontinue upon entering deferment or forbearance periods.

    Wells Fargo reserves the right to modify or discontinue interest rate discount program(s) for future loans or to discontinue loan programs at any time without notice.

    Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

  3. Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, a self-certification form, the school’s certification of loan amount, and student’s enrollment at a Wells Fargo-participating school.
  4. Students are not required to make payments while in school. Repayment begins 6 months after you graduate or leave school. For the MedCAP® Alternative Loan for Health Professionals and the MedCAP-XTRA® Loan, allopathic and osteopathic medical students have a grace period of 36 months designed for residency completion after graduation. For the Wells Fargo Student Loan for Parents and the Wells Fargo Private ConsolidationSM Loan, repayment begins after funds are disbursed. Maximum in-school periods apply and vary based on loan product. Interest continues to accrue while you are in school and will be capitalized to the account upon entering repayment.

 

SoFi

If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 11/04/2020. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (www.nmlsconsumeraccess.org)

Fixed Rates: 2.99% – 10.90%
Variable Rates: 0.99% – 11.33%

 

Earnest

1. Variable rates starting at 1.04% APR (including 0.25% Auto Pay discount). Auto Pay discount: If you make monthly payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. Not all borrowers will qualify for our lowest rates, and your rate will be based on creditworthiness at time of application.

2. 9 month grace period (3 months more than most lenders). Not available for borrowers who choose Earnest’s Principal and Interest Repayment plan while in school.

3. Skip a payment once per year (once repayment period restarted). Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count towards the forbearance limits outlined in your loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.

Undergrads:

Variable: 1.04% – 11.44%

Fixed: 3.34% – 12.78%

Grads:

Variable 1.04% – 9.89%

Fixed: 3.34% – 10.99%

 

CommonBond

Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.14% effective Oct 1, 2020 and may increase after consummation

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