We encourage our students and parents to research lenders and while no one is required to use our Preferred Lender List, in most cases it will be more cost effective when using a lender from our list.
If you do not wish to use one of these lenders click here to complete the necessary documents to apply for the loan.
If your Parent PLUS loan was previously denied and is "now approved" click here to
complete the JMU Parent PLUS Loan Application.
Do Not click the "Apply Now" button below.
Fixed Interest Rate 8.5%
Citibank
(800)967-2400
www.studentloan.com
Effective for loans guaranteed or initially disbursed after January 1, 2008 and for the 2008-09 academic year:
- No Default Fee
- No pre-payment penalties
- 0.50% Automatic Interest Rate Reduction at repayment for all students who continue to make on-time monthly payment
- Unlimited opportunities to earn back the 0.50% interest rate reduction! If a student loses their automatic interest rate reduction benefit due to a late payment, the benefit can be recovered unlimited times during the life of the loan. A student may regain the benefit by subsequently making 24 consecutive on-time monthly payments.
- 0.25% Interest Rate Reduction for students who have their loan payments automatically withdrawn through Citibank’s auto-debit payment program and agree to only receive electronic statements.
Loan Policy Regarding Selling Loans 2008: Our policy is not to sell your loans.
Edamerica
(800)337-1009
www.edamerica.net
- No Default Fee
- 0.25% interest rate reduction for auto-debit with continuous on-time payments
- Interest only or postponement of payments available
- One point-of-contact for life of loan servicing
- Combined billing available
- Flexible repayment options
- 24/7 online account maintenance
- 20 years of expertise concentrating solely on student loans
Loan Policy Regarding Selling Loans 2008: Life-of-loan servicing. Our policy is not to sell your loans.
SunTrust
(800)552-3006
www.suntrusteducation.com
Effective for loans disbursed on or after June 9, 2008:
- 0.25% interest rate reduction for borrowers who sign up for ACH
- Easy online application process and e-signature option
- Fixed Interest Rate - 8.25%
- Option to defer payments while in-school
- 24/7 Online account access
- No pre-payment penalties
- Flexible repayment options
Wachovia
(800)338-2243
www.educaid.com
Effective for all loans disbursed on or after July, 1 2008:
- 0.25% interest rate reduction for ACH
- Instant credit decisions and credit review when applicable
- No pre-payment penalties
- Parents can postpone repayment until six months after student leaves school
(student must be enrolled at least half time)
Loan Policy Regarding Selling Loans 2008: Our policy is not to sell your loans.
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.