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You may apply for
these loans to help cover the educational costs you will
incur during one term or one academic year. Generally, these
are not need-based loans, but rather loans based on such
factors as creditworthiness and stability of income,
residence, or employment. Many of the loan programs offer
deferment options while you are in school. You will be able
to apply for preapproval by phone, fax, or mail. Some
programs will require certification of you enrollment status
and/or educational costs by the Excelsior College Financial
Aid Office. Remember, you must repay these funds to the
lender. If the loan program you have chosen requires
verification of admission or enrollment status, please
contact the Financial Aid Office.
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Wells Fargo Education
Connection Loan
Provided
by Wells Fargo Education Financial Services
800-658-3567 or
http://wfefs.wellsfargo.com/jump/excelsior.html
The Wells
Fargo Education Connection Loan is an ideal solution for
students at Excelsior College. The loan is designed for
students who want additional training to change careers, or
who are working and want to enhance their current careers.
Students may borrow up to $7,000 annually. The interest rate
is as low as the Prime Rate + 0 percent, and there are no
origination, disbursement, or repayment fees.
The Wells
Fargo Education Connection Loan's affordable rates and
flexible repayment options make paying for your education
easier than ever. A generous repayment period (up to 10
years) and competitive interest rates mean your monthly
payments will be affordable. You can lower your interest
rate by making your payments automatically from a checking
or savings account. (0.50% from a Wells Fargo account or
0.25% from a non-Wells Fargo account) And, when you pay on
time every month for the first 48 months, Wells Fargo will
lower the interest rate again.
To apply, call
Wells Fargo at 1-800-658-3567 or go online at
www.wellsfargo.com/student. If you apply with a
cosigner, both of you should have the following information
ready beforehand. If your cosigner is not present with you
when you sign on, you will need his or her information and
permission to apply. (A cosigner may improve the likelihood
of an approved application.)
- Social Security number(s)
- Personal reference(s) — including contact
information
- Employment and income information — employer’s
address and phone number, annual gross income, and
previous employment information (All students who apply
on their own and all cosigners must complete this
requirement.)
- Requested loan amount
- School information — name, city, state, your current
grade level, and anticipated graduation date (Required
of the student borrower only.)
- Residence information — status (own/rent) and
monthly housing payment (All students who apply on their
own and all cosigners must complete this requirement.)
After you
submit your application, it will be evaluated for
pre-approval status. You will receive a response online
within a few minutes. Be sure to record your application
number for your reference.
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CitiAssist Loan
Offered
by Citibank
800-745-5473 or www.studentloan.com
Enrolled students are eligible to apply for
the CitiAssist Loan, although no specific enrollment status
(full-time, half-time) is required. If you have not
established a credit history or are not a U.S. citizen or
permanent resident, a co-signer is required. There are no
loan fees, and there is no minimum loan amount. You may
borrow up to the cost of education, less other financial aid
received. The interest is variable and adjusted quarterly.
There are no loan payments required while in school. To
apply, you may mail or fax the completed loan application to
Citibank.
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EXCEL Loan
Offered
by Nellie Mae
800-634-9308 or www.nelliemae.com
Undergraduate students who are enrolled in
an Excelsior College degree program on at least a half-time
basis are eligible to apply for the EXCEL Loan. Yo may
borrow from $500 up to the cost of education, less other
financial aid received. You may select a montly variable
interest rate or an annual variable interest rate. There are
flexible repayment options. You apply by sending the
completed and signed loan application (included in the
application brochure) to Nellie Mae.
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EXCEL GRAD Loan
Offered
by Nellie Mae
800-634-9308 or www.nelliemae.com
Half-time graduate-level enrolled status
and satisfactory credit history are required for the student
borrower; creditworthiness and total monthly credit
obligations not exceeding 40% of the monthly income are
required for the co-borrower. The annual loan amount for
students borrowing with a co-borrower is $2,000 or up to the
cost of education. The annual amount for students borrowing
on their own is $2,000 to $7,000. You may select a monthly
variable interest rate or an annual variable interest rate.
There are three repayment options, including in-school
deferment. With a co-borrower, the guarantee fee varies. |
