Compare Alternative Loan Programs
Undergraduate and graduate students and parents should compare alternative loan costs with costs for the Federal Parent PLUS Loan. Find out more or complete the application.
Questions? See the Alternative Loan FAQs »
| Chase Select Loan | CitiAssist Loan | Sallie Mae Smart Option Loan | Wells Fargo Collegiate Loan | Discover Loans | |
|---|---|---|---|---|---|
Loan Servicer |
Chase |
Citibank |
Sallie Mae |
Wells Fargo |
Discover Bank |
Phone Number |
(866) 306-0868 |
(800) 967-2400 |
(800) 695-3317 |
(800) 658-3567 |
(877) 728-3030 |
| Applications and Information | Apply and sign online at chase selectloans.com |
Apply and sign online at citiassist.com | Apply and sign online at salliemae.com |
Apply and sign online at wellsfargo.com |
Apply and sign online at discover studentloans.com |
| Borrower | Student, usually with a creditworthy co-signer | Student, usually with a creditworthy co-signer | Student, usually with a creditworthy co-signer | Student, usually with a creditworthy co-signer | Student, usually with a creditworthy co-signer |
Eligibility of Borrower/ |
- U.S. citizen or permanent resident - At least 18 years of age - Positive credit history - International students may apply with an eligible U.S. citizen or permanent resident co-signer - Enrolled part-time, half-time or full-time |
- U.S. Citizen or permanent resident - At least 18 years of age - Positive credit history - International students may apply with an eligible U.S. citizen or permanent resident co-signer - Enrolled part-time, half-time or full-time |
- U.S. citizen or permanent resident - At least 18 years of age - Positive credit history - International students may apply with an eligible U.S. citizen or permanent resident co-signer - Enrolled at least half-time |
- U.S. citizen or permanent resident - At least 18 years of age - Positive credit history - International students may apply with an eligible U.S. citizen or permanent resident co-signer - Enrolled part-time, half-time or full-time |
- U.S. citizen or permanent resident (co-signer may be required) -Must pass credit check -Maintain satisfactory academic progress as defined by school -Enrolled at least half-time for in-school deferment |
| Annual Limits: Maximum Minimum |
Cost of Attendance less financial aid
$500 |
Cost of Attendance less financial aid
None |
Cost of Attendance less financial aid
$1,000 |
Cost of Attendance less financial aid
$500 |
Cost of Attendance less financial aid None |
| Aggregate Limit | Undergraduate: $120,000 Graduate: $180,000 | Undergraduate: $120,000 Graduate: $150,000 | Undergraduate: $100,000 Graduate: $150,000 | Undergraduate: $120,000 Graduate: $120,000 | None |
Interest Rates (variable unless stated otherwise) |
Interest rates range from 3 month LIBOR plus 4.40% to 3 month LIBOR plus 9.75%, depending on credit of borrower and/or co-signer. | Interest rates range from 3 month LIBOR plus 4.75% to 3 month LIBOR plus 11.5%, depending on credit of borrower and/or co-signer. | Interest rates range from 1 month LIBOR plus 4.5% to 1 month LIBOR plus 10.5%, depending on credit of borrower and/or co-signer. | Interest rates range from Prime plus 1% to Prime plus 7.99%, depending on credit of borrower and/or co-signer. | Interest rates range from Prime plus 1% to Prime plus 7.75%, depending on credit of borrower and/or co-signer. |
| Loan Fees | None | 0-6% | 0-3% | None | None |
Grace Period |
Interest and principle payments deferred until 6 months after graduation or leaving school | Interest and principle payments deferred until 6 months after graduation or leaving school | Principle payments deferred until 6 months after graduation or leaving school | Interest and principle payments deferred until 6 months after graduation or leaving school | Interest and principle payments deferred until 6 months after graduation or leaving school |
| Repayment Period | 20 to 25 years, based on amount borrowed | Up to 20 years, based on amount borrowed | 15 to 30 years, based on amount borrowed | 15 years | 15 years |
Borrower Benefits |
- Instant credit decision - 0.25% rate reduction with automatic payments from a bank account - 0.25% rate reduction if immediate or interest-only repayment option chosen while attending school - Co-signer release available after first 36 consecutive on-time payments - Loans available for past due balances incurred within the last 12 months |
- Instant credit decision - 0.25% rate reduction with automatic payments from a bank account - Deferment and forberance: contact Citibank for details - Up to 24 months of forbearance available |
- Instant credit decision - 0.25% rate reduction with automatic payments from a bank account - Co-signer release available. Contact Sallie Mae for details. - Upromise Loan Link - pay down Signature loan through Upromise account - Helps students manage educational loan debt by requiring interest payments while in school |
- Instant credit decision - 0.25% rate reduction with automatic payments from a bank account - 0.50% rate reduction upon verification of graduation. Contact Wells Fargo for details. - Co-signer release available after first 24 on-time payments -Loans available for past due balances incurred within the last 12 months. Contact Wells Fargo for details. |
- 0.25% repayment interest rate credit when payments are automatic debit from bank account -zero repayment fees - 2% graduation reward based on outstanding principal balance (see graduation reward policy) |
| Preferred for: | Variety of repayment options | Hassle-free application process and customer service | Extensive loan counseling provided | Additional loan options for nursing students | Interest rate reduction upon graduation |