Alternative Loans

Welcome to the Alternative Loans page for Barton College.

Please read and follow instructions carefully. Alternative Loans are offered by private lending institutions and are not guaranteed by the federal government. These funds are available to credit and non-credit students who may not be eligible for federal financial aid or who may need to bridge the gap between the actual cost of education and their federal financial aid. The lender will interpret credit history and other determining factors to see if the student is eligible. This list describes alternative educational loans, offered by private lending institutions.

Campus Door	Interest rate as low as Prime -0.50% Fees as low as 0% Loan Limits $500 up to the cost of education less financial aid Payments not required while enrolled at least half-time Defer payments until 12 months after graduation Repayment terms up to 25 years .50% interest rate deduction with auto debit .50% rate reduction after 48 consecutive on time payments
Chase Select	Zero Origination and Repayment Fees 0.25% interest rate reduction for choosing payments automatically debited from a bank account 0.25% interest rate reduction for choosing immediate or interest-only repayment options Prime minus 0.50%, rates as low as Student just needs to be enrolled, can be less than 1/2 time, 1/2 time or full time No Satisfactory Academic Progress requirement
Chase Private Student Loan	Conditional approval provided in minutes Check is sent directly to student Loan amounts from $1000 - $40,000 Funds can be used for any education-related expense No financial aid forms or school certification needed Repayment can begin 6 months after leaving school Funds can be used to pay past due balances 12 months in arrears Student needs to be enrolled at least 1/2 time or show enrollment for future term
CitiAssist	0.25% Interest Rate Reduction – for students who have their loan payments withdrawn electronically from their bank accounts through Citibank’s auto-debit payment program service. Additional 0.50% Interest Rate Reduction – for students who make their first 48 consecutive required monthly payments on time.
College Foundation, Inc.	Effective for loans disbursed on or after 7/1/2008 No origination or default fees. Interest rate reduction of .50% if you make monthly payments by automatic draft and elect to receive electronic statements.
National Education Select Alternative Loan	.25% interest rate reduction for auto-debit payments Co-borrower release option after 36 on time payments
Sallie Mae	.25% IRR for ACH
Wachovia Private Loan^SM	Available May 19, 2008 Zero origination, guarantee, repayment, disbursement, and co-signer fees Interest rate as low as the Prime Rate minus– 0.50% to Prime + 4% Interest rate reduction of -0.50% available with auto debit payments No income documentation required for most borrowers No minimum credit hours, no SAP required, and can use for Non-Degree students Borrow up to Cost of Attendance – other aid ($15,000 for Bar and Residency) Finance current or past-due balances up to 3 years old (no current enrollment required) Students may apply alone or with a co-borrower (co-borrower release available after 36 months) Online application for faster funds (can apply up to 180 days before first disbursement) Flexible repayment with ability to suspend or reduce payments during times of financial difficulty (up to 24 months for hardship forbearance) and up to 25 years to repay Make NO Payments with in school deferment up to 10 years Interest capitalizes 6 months after graduation or 6 months after student leaves school - 6 or 9 month grace period Minimum loan amount $500

The information in this list has been provided by each lender and is subject to change at any time.
Accordingly, neither ECMC nor the school can verify the accuracy of the information or how current it may be.