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Recommended Online Parent PLUS Lender List Please select a lender from our list of recommended lenders below for your Federal PLUS Loan. The following lenders disburse funds electronically to our school. This allows funds to be posted directly to the students' account. You must inform us of your lender choice by submitting a button in the Select column below before you can complete your Federal PLUS Loan Master Promissory Note (MPN). If you have any questions, please contact the Financial Aid Office.
Paul Smith's College selected the following recommended lender list for your convenience based on superior customer service, competitive borrower benefits and life-of-loan servicing. The performance of our recommended lenders is evaluated each academic year. Therefore, the list is subject to change based on evaluation by our experienced loan team. As a parent borrower, you can be assured Paul Smith's College strives to provide the best borrower benefits available and eliminates confusion by selecting a seamless customer service process from application to graduation and on to repayment.
Please note: As a parent borrower, you have the right to choose any student loan lender and if your lender is not listed below, please provide us with their name and related contact information to your Financial Aid Office.The interest rate on a PLUS loan is usually better than many of the alternative student loans and currently has a fixed interest rate of 8.5 percent sent by the Federal government.
| Lender Information | Origination Fee | Borrower Benefits |
Chase
1.800.487.4404
http://www.ChaseStudentLoans.com
Lender Code: 803000
Loan Servicer: Chase
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3.00 % |
- 0% default fee.
- 0.25% automatic interest rate reduction immediately at repayment.
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Citibank
1.800.967.2400
http://www.studentloan.com/schools/paulsmiths
Lender Code: 826878
Loan Servicer: Citibank
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3.00 % |
- 1.00-4.00% default fee.
- 0.50% automatic interest rate reduction at repayment.
- 0.25% interest rate reduction for signing up for auto-debit by having your monthly payments automatically withdrawn from your bank account.
- No Worries- unlimited opportunities to earn back the 0.50% interest rate reduction if you lose it due to late payment. Regain the benefit by making 24 consecutive on-time payments.
- Citibank holds and services for the life of the loan.
- Citibank offers combined billing to make one payment for Citibank Stafford and CitiAssist alternative loans.
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Citizens Bank, a division of RBS Citizens, N.A.
1.800.708.6684
http://www.citizensbank.com/edu
Lender Code: 812265
Loan Servicers: Nelnet
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3.00 % |
- 1.00% default (guarantee) fee depending on guarantor.
- 0.25% interest rate reduction for automatic payment deduction from any bank account.
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Edamerica
1.800.337.1009
http://www.edamerica.net
Lender Code: 831453
Loan Servicer: Edfinancial Services
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3.00 % |
- 0% to 1% default fees based on guarantor.
- 0.25% interest rate reduction with auto-debit with continuous on-time payments.
- One point of contact for life of loan servicing.
- 20 years of expertise concentrating solely on student loans.
- Fast and easy online application with instant credit decision.
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VSAC
1.800-798-8722
http://www.vsac.org
Lender Code: 830075
Loan Servicer: VSAC
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4.00 % |
- Annual interest rebate equivalent to 1% of the outstanding principal balance even while the student is in school.
- .25% inerest rate reduction for auto debits with paperless billing.
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For questions or concerns:
1.518.327.6220
financialaid@paulsmiths.edu |
Subject to change depending on lender. |
- Subject to change depending on lender.
- If you decided to use a lender of your choice, please provide the Financial Aid Office with as much detailed information as possible. This may include a lender code, lender's website, phone number, etc.
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