Welcome to the Alternative Loan page for Montreat College

Please read and follow all instructions.

The Financial Aid Office at Montreat has selected a diverse list of lenders that offer the highest level of service and other benefits for our students. We build our list each year based on a number of considerations which include: Ease of processing, borrower benefits, customer service to both the student and school and whether or not the lender sells its loans. Students have the right to choose any lender that participates in the federal student loan program and we are required to accommodate the student if he/she chooses a lender not on our list. However, we feel that a preferred list is a helpful tool for students because the Financial Aid Office has investigated and determined that the listed lenders strive for excellence and will service our students with excellence during all stages of the student loan process. These lenders will also enable us to live out our promise and mission statement of being "Christ-Centered, Student-Focused, and Service-Driven" as they are all highly professional and are trusted to serve our students well.

If you would prefer to use a lender who is not on our lender list, please contact the financial aid office.

	826878	CitiAssist is available to borrowers attending less than half-time. Interest rate as low as 4.50% Fees as low as 0% Co-borrower can apply for a co-signer release after 24 on-time payments. In-school forbearance and deferment options are available.
	807037	No origination or default fees. Interest rate reduction of 0.50% when borrower makes payments by automatic draft and elects to receive electronic statements.
	834378	Zero origination fees for all borrowers Zero repayment fees for all borrowers .25% interest rate reduction for auto-debit payments Rate: Prime -.50% to Prime + 5% (contingent on borrower and co-borrower credit) Co-borrower release option after 36 on-time payments Repayment Terms – up to 20 years No payment required while still in school No pre-payment penalties Payment options available Six months grace period Up to 60 months In-School deferment period Enrollment requirements: Full-time; Half-time; or Less than half-time including Continuing Education (Loan proceeds may be used for a previous academic period IF the loan period ended less than 6 months in the past.) Eligibility Requirements: Age of majority in the state you reside for assistance; U.S. Citizen or U.S. Permanent resident with a valid SSN and U.S. permanent address; International student with qualified U.S. Citizen or U.S. Permanent resident co-signer; attending an eligible school Aggregate Loan Limit: $120,000 Minimum: $500 Maximum: cost of attendance less other aid received