Graduate PLUS Loans
2007-08
Effective July 1, 2006, graduate or professional students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other financial aid received.
The terms and conditions applicable to Parent PLUS Loans also apply to Graduate PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and a fixed interest rate of 8.5 percent.
Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate PLUS loan.
UW-La Crosse graduate students who wish to apply for a Graduate PLUS Loan must:
1- Fill out a Graduate PLUS Loan Request Form.
2- Complete a Graduate PLUS Loan Master Promissory Note (MPN).
You may borrow from any lender that
you choose.
UW-L's
2007-08 Preferred Lender List
Information about each lender and the
benefits they offer is available below.
Student Loan Express
EdAmerica
AnchorBank
College Loan Corporation
Wachovia
Student Loan Xpress
Jill Nett
(866) 311-8137
(866) 759-7737 ext. 6044
www.slxpress.com
* 3% Origination Fee
* 3% principal reduction after full disbursement
* .25% interest rate reduction for auto-debit
U.S. Bank (821654)
Linda Brumm
(800) 242-1200 ext. 5438
(920) 484-3505
www.usbank.com/studentloans
* 3% Origination Fee
* 5% credit reduction of original principal loan amount after
36 consecutive monthly on-time payment
* .25% immediate interest rate reduction
Associated Bank
(830492)
April Sullivan
(800) 789-6765
(608) 796-4524
www.associatedbank.com
* 3% Origination Fee
* 2% interest rate reduction for 48 consecutive on-time
monthly payments
* .25% interest rate reduction for auto-debit
* PLUS borrowers receive a credit of total paid origination
fees, minus $250, after 24 consecutive on-time payments
Wells Fargo
(807176)
Ben Osmond
(800) 658-3567
(866) 239-1634
www.wellsfargo.com/student
*3% Origination Fee
Citibank (826878)
Rebecca Hedrick
(800) 967-2400
(316) 744-2610
www.studentloan.com
* 3% Origination Fee
* .50% interest rate reduction at repayment (if benefit is
lost it is recoverable after 24 on-time payments)
* .25% interest rate reduction for auto debit
M & I
Bank (811949)
Tom Mrozinski
(800) 236-4440
www.mibank.com/studentloans
* 3% Origination Fee
* Waive last 5 payments
* Waive additional 2 payments if signed up for ACH
To qualify for these benefits the borrower must:
- Provide a valid e-mail address within 90 days for
first disbursement
- Keep e-mail address valid through the life of the loan
- Receive e-newsletters
- Manage account online at Nelnet.com with e-correspondence
within 90 days of first disbursement
- Complete Nelnet's exit counseling prior to entering
repayment
- No late payments past 3 day grace period
- No pre-payment
TCF Bank (822135)
Blake Taylor
(800) 357-0185
(414) 543-5640
www.tcfexpress.com/educationfinance.htm
* 3% Origination Fee
* .70% interest rate reduction for auto-debit
* 1% loan credit after 12 on-time payments
EdAmerica (834060)
Jo Woodward
(715) 531-0276
(800) 337-6884
(651) 485-3261
(cell)
www.edamerica.net
* 3% Origination Fee
* .60% interest rate reduction for auto-debit
AnchorBank (823011)
Bill Venne
(800) 236-8769
(608) 252-8769
www.anchorbank.com
* 3% Origination Fee
* 2% interest rate reduction if first 48 payments are made
on-time
* .25% interest rate reduction for auto-debit
College Loan Corporation (833733)
George Emery
(888) 972-0852
(847) 249-4402
www.collegeloan.com
* 3% Origination Fee
* 1% cash rebate after 36 on-time payments
* .25% interest rate reduction for auto-debit
Wachovia (870005)
Tom Hansen
(877) 689-0763
(651) 739-7996
www.wachovia.com/education
* 3% Origination Fee
* Automatic rebate of .6% when entering into repayment fixing
the interest rate at 7.9%
* In order to retain the fixed rate for the life of the loan
the borrower must make their first 12 scheduled payments
* 3% principal rebate equal to or greater than the loan's
origination fee directly applied to accrued interest
3- Once the UW-L Financial Aid Office (FAO) certifies the loan, a credit check will be done to determine the student's eligibility. The student can apply for pre-approval which will determine eligibility and speed up the process.
PLUS Borrower's Rights and Responsibilities Statement
2007-08 Graduate Other Financing Options
Methodology used in determining UW-La Crosse's Preferred Lender List
The UW-La Crosse Financial Aid Office does not and never has received favors or benefits from lenders in exchange for putting those lenders on our Preferred Lender List.
