Alternative Loans - Financial Aid: Wartburg College

FINANCIAL AID > LOAN INFORMATION > ALTERNATIVE LOANS Alternative Loans The following alternative loan comparison chart includes some of the lenders that offer private, non-federally funded student loans. This list of loan products is not all-inclusive and does not imply endorsement by Wartburg College. Wartburg College will certify a loan from any lender you determine best meets your needs even if they are not on this list.
	Campus Door 800.786.0002	Next Student 800-481-6398	US Bank 800.242.1200	Wells Fargo 800.658.3567
Program Name	Alternative Loan	Private	No Fee/GAP Education Loans	Collegiate Loan
Class of Students	Undergrad, Grad	Undergrad, Grad	Undergrad, Grad	Undergrad, Grad
Co-signer required?	No	No	Not if borrower is credit worthy	Not if borrower is credit-worthy and meets income requirements
Loan in whose name?	Student	Student	Student	Student
Degree program Required?	No	No	No	No
Minimum Enrollment	At least half-time	At least half-time	full-time, half-time, or less than half-time	full-time, half-time, or less than half-time
Grace Period	12 months	12 months	6 months	6 months
Max. repayment period	Up to 25 years	Up to 25 years	Up to 15 years	Up to 20 years
Loan Fees	0%-5% cosigned 3%-9% non-cosigned	0-9%	None/4-8%	None
Interest Rate	Prime - 0.5% to Prime + 4% based on credit	Prime - 0.5% to Prime + 7.9%	Prime + 0%, 1.95% or 3.95% based on credit/91-Day T-Bill + 2.5%	Prime +0%, 1.5%, 3.5%, or 4.5% depending on credit
Type of Interest	Variable - Adjusted quarterly	Variable - Adjusted quarterly	Variable - Adjusted Monthly	Variable - Adjusted Monthly
How often is interest capitalized	At repayment	At repayment	At repayment	At repayment
Minimum Loan Amount	$500	$500	$1,000	$1,000