Parent Loan Suggested Lenders

Generic Online Parent PLUS Loan Application

Chase is committed to SUNY Cortland parents and students. As a leading provider of Federal Family Education Loans, Chase has more than 40 yers of experience helping parents make sure their students achieve their education dreams. We offer competitive interest rages and a quick and easy application process - plus more than 600 banking centers and 2,000 ATM's in New York along. And we will always make sure you understand your loan rates and terms.

UP-FRONT FEES FOR 2008-2009: (deducted from the loan disbursement)

• 3% origination fee and 0% default fee (Default fees paid on behalf of Chase loans guaranteed by American Student Assistance)
• For example, $30 in fees will be deducted from a $1000 loan resulting in a $970 disbursement

DISCOUNTS AND BENEFITS FOR 2008-2009:

• A 0.25% interest rate reduction for having monthly payments automatically deducted from your bank account (ACH) by Chase.

LOAN SERVICING: (or... "Where will I make the payments?")

• Chase currently services Federal PLUS loans made under Lender ID 803000 internally through Chase Student Loan Servicing, LLD, in Mississippi for the life of the loan.

MORE INFORMATION:

• Terms and conditions apply. See website for details. www.chasestudentloans.com

APPLY FOR PRE-APPROVAL: (first time PLUS borrowers)

• ASA Direct log-in – Chase or by telephone at 1-800-487-4404

APPLY FOR PRE-APPROVAL: (second and subsequent year renewals)

• ASA Direct log-in - Chase or by telephone at 1-800-487-4404

Citibank is the second largest originator of student loans in the nation. When you work with Citibank, you choose a globally recognized brand with worldwide presence and more than 50 years of experience and innovation in education financing. Citibank offers a full line of products in both Federal and Private Loans. At Citibank, all of our loans are serviced at our own servicing center in Sioux Falls, South Dakota. This provides borrowers with one point of contact, from origination through repayment.

UP-FRONT FEES FOR 2008-2009: (deducted from the loan disbursement)

• 3% origination fee and 1% default fee. (Citibank does not pay the default fee for Parent PLUS borrowers.)
• $40 in fees will be deducted from a $1000 loan resulting in a $960 disbursement.

DISCOUNTS AND BENEFITS for 2008-2009:

• 0.50% automatic interest rate reduction - at repayment for all borrowers who continue to make on-time monthly payments.
• No Worries - parent borrowers who lose the automatic interest rate reduction due a late or delinquent payment, have the ability to earn it back by making 24 on-time, consecutive on-time monthly payments. This benefit can be recovered unlimited times during the life of the loan.
• 0.25% interest rate reduction - for borrowers who have their loan payments automatically withdrawn through Citibank's auto-debit payment program and agree to receive electronic statements only.

LOAN SERVICING: (or ..."Where will I make payments?")

• Citibank PLUS loans are serviced at Citibank in Sioux Falls, SD

MORE INFORMATION:

• studentloan.com/schools/suny/cortland

APPLY FOR PRE-APPROVAL: (first time PLUS borrowers)

• ASA Direct log-in - Citibank

APPLY FOR PRE-APPROVAL: (second and subsequent year renewals)

• ASA Direct log-in - Citibank or by telephone at 800-967-2400.

UP-FRONT FEES FOR 2008-2009: (deducted from the loan disbursement)

• 3% origination fee and 1% default fee (Edamerica does not pay the default fee for PLUS borrowers)
• $40 in fees will be deducted from a $1000 loan resulting in a $960 disbursement.

DISCOUNTS AND BENEFITS FOR 2008-2009:

• .25% interest rate reduction for auto-debit with continuous on-time payments

LOAN SERVICING: (or... "Where will I make the payments?")

• Edamerica PLUS loans are serviced by Edfinancial Services in Knoxville, TN for the life-of-the-loan.

MORE INFORMATION:

•  www.edamerica.net/applyforstudentloan/loansforparents/

APPLY FOR PRE-APPROVAL: (first time PLUS borrowers)

• ASA Direct log-in - Edamerica

APPLY FOR PRE-APPROVAL: (second and subsequent year renewals)

• ASA Direct log-in - Edamerica or by telephone at (800) 337-1009.

UP-FRONT FEES FOR 2008-2009: (deducted from the loan disbursement)

• 3% origination fee and 1% default fee. (KeyBank does not pay the default fee for Parent PLUS borrowers.)
• $40 in fees will be deducted from a $1000 loan resulting in a $960 disbursement.

DISCOUNTS AND BENEFITS for 2008-2009:

• 0.25% principal reduction when a borrower enrolls in our auto-debit payment program.

LOAN SERVICING: (or ..."Where will I make payments?")

• KeyBank loans are serviced by American Education Services (AES) in Harrisburg, PA

MORE INFORMATION:

• www.key.com/cortland

APPLY FOR PRE-APPROVAL: (first time PLUS borrowers)

• ASA Direct log-in - KeyBank

APPLY FOR PRE-APPROVAL: (second and subsequent year renewals)

• ASA Direct log-in - KeyBank or by telephone at 1-800-539-5363

Sallie Mae is the nation's leading provider of student loans. Since 1973, Sallie Mae has helped millions of student achieve their dream of a higher education. Today, Sallie Mae is the largest Federal Family Education Loan Program originator in the industry.

UP-FRONT FEES FOR 2008-2009: (deducted from the loan disbursement)

• 3% origination fee and 1% default fee (Sallie Mae does not pay the default fee for Parent PLUS borrowers.)
• $40 in fees will be deducted from a $1000 loan resulting in a $960 disbursement.

DISCOUNTS AND BENEFITS FOR 2008-2009:

• 0.70% percentage point interest rate reduction for making payments via automatic debit from your bank account.
• Parents have the option of postponing repayment for up to 12 month increments through forbearance for up to 60 months while their undergraduate child is in school. Borrowers must reapply annually and are responsible for all interest that accures during forbearance. While no payments are required during forbearance, parents have the option of making interest-only payments during the forbearance period.
• Parent PLUS borrowers who are not initally approved will receive Sallie Mae's free, confidential credit counseling service.

LOAN SERVICING: (or... "Where will I make the payments?")

• Sallie Mae PLUS Loans are serviced by Sallie Mae in Wilkes-Barre, PA

MORE INFORMATION:

• www.salliemaeedtrust.com/best_loan/parent_loans/parent_plus.htm

APPLY FOR PRE-APPROVAL: (first time borrowers)

• ASA Direct log-in - Sallie Mae

APPLY FOR PRE-APPROVAL: (second and subsequent year renewals)

• ASA Direct log-in - Sallie Mae or by telephone at 800-891-1408.

For Your Information:  This "Suggested Lender List" is provided for the information and convenience of our parent PLUS Loan borrowers.  You have the right and ability to select the education loan provider of your choice, are not required to use any of the lenders on this list, and will suffer no penalty for choosing a lender that is not on this “suggested” list.  SUNY Cortland does not endorse or sponsor any of these lenders, nor does the College receive any payment or benefit from the lenders for providing this information.  Please use the following link, "Why a Suggested Lender List", if you would like to learn more about how SUNY Cortland selected these PLUS Loan providers and why we provide this list.

All PLUS Loan application links from this page will take you outside of the SUNY Cortland Website.  SUNY Cortland accepts no responsibility for the content of third-party sites linked from this page.