Stafford Lender List - Financial Aid - Western University of Health Sciences

Financial Aid

Stafford Lender List

Stafford Lender List

2008 - 2009

Western University of Health Sciences is committed to finding the most cost-effective way for all of our students to finance their education. Over the years we have worked with numerous lenders to offer programs that will meet the specific needs of our students and save them as much money as possible when they need to borrow.

With this goal in mind, we have developed a Stafford lender list to best serve our student borrowers. Lenders are selected for our lender list based solely on what is judged to be in the best interest of the University's students. The Financial Aid Office (FAO) annually reviews education loan provider's programs to determine if their programs are beneficial for the University's students.

Each of the lenders below has a fixed interest rate of 6.8%. Repayment begins 6 months after the student graduates or drops below half-time enrollment. Also, students may qualify for deferment and/or forbearances during residency and internships.

The FAO was able to determine to the best of our ability the cost of educational loans by using the loan analyzer calculators at http://www.finaid.org/calculators/loandiscountanalyzer.phtml many lenders were reviewed based on the following scenario:

$8,500 Subsidized Stafford Loan

$30,000 Unsubsidized Stafford Loan

Interest rate of 6.8%

Four years remaining in school

Grace Period of 6 months

Incentives provided by each lender

Equals the Cost of Loan (see chart below)

Based on the results of our scenario as shown above we have selected the lenders listed below based on the cost of the loan, customer service, ease of process, company reputation and funding availability.

As a borrower you have the right and ability to select the education loan provider of your choice, even though they are not shown on our lender list. Selecting a lender that is currently not on our list will not have any consequences; all loans will be processed in a timely manner.

Lender and Borrower Incentives (we encourage students to use the financial aid calculator to determine the cost of their loans) http://www.finaid.org/calculators/loandiscountanalyzer.phtml

WesternU's lender list does not contain any lender that has offered or solicited any financial or other benefits to be a part of our lender list.

Lenders listed below are arranged in alphabetical order.

This list is subject to change without notice.

Stafford Lenders

Incentives / Fees

Chase Health Stafford

APPLY

1.0% Origination fee deducted from each disbursement

1.0% Interest rate reduction at repayment

1.0% Principal reduction at repayment

Citi Bank

APPLY

1.0% Origination fee deducted from each disbursement

0.25% Interest rate reduction with auto debit

0.50% Interest rate reduction at repayment

Zero payments the last six months

Key Bank

APPLY

1.0% Origination fee deducted from each disbursement

0.50% Interest rate reduction with auto debit

SunTrust

APPLY

1.0% Origination fee deducted from each disbursement

0.25% Interest rate reduction with auto debit

1.50% Principal reduction after 12 on time payments

US Bank

APPLY

Zero origination fees

1.0% Rebate on the principal after the first 12 on time payments

Wachovia

APPLY

0.50% Origination fee deducted from each disbursement

0.25% Interest rate reduction with auto debit

1.0% Principal reduction at disbursement

Wells Fargo

APPLY

Zero origination fees

No other incentives being offered at this time

Remember, selecting your education loan provider is completely your choice. The financial aid counselors at WesternU are here to explain the differences in education loan providers but can not select a lender for you.

Last Updated:04/28/2008

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