Lenders that Offer Student Loans for Graduate School

Lenders that offer private student loans differ in interest rates, payment options, fees, and features. The following financial institutions are some of the most popular student loan lenders that you can apply for a graduate study loan.

Citibank - This bank has a private student loan program called the CitiAssist Undergraduate and Graduate Loans. You can borrow up to a maximum amount of $150,000. The interest rates and other application costs depend on your credit score. You are given 6 months of grace period after school to start paying the loan. You can also choose to just "pay interest only" for 24 or 48 months. This lender does not impose prepayment penalties.

Wells Fargo - The Wells Fargo Graduate Loan offers a maximum amount of $180,000 to students taking business and law, and $120,000 for students taking other field of studies. To reduce your interest rates, this lender offers two types of options where you can avail of up to 0.50% of interest rate reduction. A cosigner may not be needed if the required information you provide satisfies their guidelines.

Sallie Mae Education Trust - The Sallie Mae Smart Option Student Loan allows you to borrow the total amount needed to pay all school expenses after subtracting the sum from other financial aid availed. You are required to make the "pay interest only" payment all throughout the period you are in school, and the entire 6 months after you leave the study. Payments for the principal and incurred interests start right after the sixth month you finish or drop the school. Having a cosigner can help the approval of the loan and may help lower the interest rate.

Discover Student Loans - This lender's private student loan offers 100% of the total school expenses minus other loan sources. Variable interest rate starts at 1% to 7.75%. You are given 9 months of grace period after graduation to pay the loan. A 2% cash reward is given if you graduate the study. The amount of cash reward is based on the amount of your outstanding principal balance. They do not collect fees for origination, prepayment, and default.

Chase - You can borrow of up to $180,000 with the Chase Select Private Student Loan. To get approved of the loan you are required to provide a signed application and promissory note as well as a proof of your school enrollment. Payments will not be collected while you are still attending the study.

U.S. Bank - You can avail up to $20,000 a year if your loan was granted at a higher interest rate. Interest rate is variable which is based on your credit history. It starts from 1.95% up to 8.95%. You can get a repayment discount of 0.50% if you will use their AutoPay electronic payment option.

PNC Bank - You can apply the graduate student loan either with a cosigner or none. To get approved without a cosigner, you need to have an acceptable credit history. Loan's interest rate starts from 4% to 10.75% depending on your creditworthiness. It is variable and adjusted each quarter. You may also pay origination fee of up to 6% of the total amount of the loan depending on your credit record. A maximum of 25 years repayment can be availed.


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