2008-2009 UCLA's Private Loan Lender List
Applying for a Private Loan
• Call the lender for pre-approval or select a lender below to complete an online application.
• If pre-approved, the lender will direct you to submit the information/documentation required to complete the application process. Please provide all requested information directly to the lender.
• Once your private loan is approved, the lender will contact UCLA (electronically) to obtain verification of your eligibility.
• Once the loan is certified by the Financial Aid Office, your disbursements will be sent to UCLA via EFT and applied to your Billing and Receivables (BAR) account. Refunds will be forwarded to your personal bank account via Bruin Direct or mailed to you, if you have not signed up for Bruin Direct.
If you select to borrow your private loan from a lender not listed below, please contact them directly to research loan terms and get instructions on how to apply. Please note that your disbursements will be funded via paper checks by lenders not on this list.
PLEASE REFER TO 2008-2009 PRIVATE LOAN GUIDE FOR ADDITIONAL INFORMATION.
Lender |
Interest Rate |
Details |
Citibank
CitiAssist Loan
800-967-2400
Apply Now
|
Prime minus 0.50% to Prime + 4.75% |
• Fees: 0% - 5% based on credit review.
• Annual Limit: Cost Of Education (COA) less other aid (No Minimum).
• Enrollment: Full-time, Half-time or below half-time.
• Aggregate Limit: Undergrad $120,000; Grad $150,000.
• Repayment Period: Undergrad and Grad – 20 years.
• Grace/Deferment: Option to defer principal & interest payments while in school plus 6 month grace period.
• Interest Only Option: 24 or 48 months of interest only payments.
• No income required for borrowers with strong credit.
Repayment Incentives:
• 0.25% interest rate reduction for auto debit (must enroll and only receive statements electronically).
• 0.50% interest rate reduction when you make your first 48 consecutive monthly payments on time.
• Co-signer release option after 24 on time payments (borrower must apply for co-signer release).
|
Sallie Mae
Signature Loan
800-695-3317
Apply Now |
LIBOR + 2.5% - 8%
(without co-borrower)
LIBOR + 2.5% - 7%
(with co-borrower)
|
• Fees: NO FEES!
• Annual Limit : COA less other aid (Minimum $500).
• Enrollment : Full-time, half-time or below half-time.
• Aggregate Limit : Undergrad $100,000; Graduate $150,000; $222,000 for specific graduate health professions.
• Repayment Period : 15 years. Option to extend repayment period up to 30 years based on aggregate loan balances.
• Grace/Deferment : No payments while in school (half-time or more). Additionally, 6 months grace period.
• No income required for borrowers with strong credit.
Repayment Incentives:
• Cosigner release option after 24 on-time payments.
• 0.50% interest rate reduction for automated payment from borrower's account.
• Combined billing for borrowers with multiple Sallie Mae loans. |
Wells Fargo
Collegiate Loan
800-658-3567
Apply Now
|
Prime + 0.00% to Prime + 5.99% |
• Fees : NO FEES!
• Annual Limit: COA less other aid (Minimum: $1000 for first time borrowers, $500 for continuing borrowers.)
• Enrollment: Full-time, half-time or below half-time.
• Aggregate Limit: $120,000.
• Repayment Period: 15 years.
• Grace/Deferment: Principal and interest may be deferred up to 6 months after graduation or ceasing enrollment.
Repayment Incentives:
• 0.50% Interest Rate Reduction upon verification of Graduation.
• 0.25% Interest Rate Reduction for automatic payments from a checking or savings account.
• Co-signer release option. |
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