The lenders in the list below are included because they meet two or more of the following criteria:
- They offer zero origination fees.
- They offer incentive repayment programs and/or other benefits.
- They have local branches and/or local representatives.
- They have established a good working relationship with Westminster over the years.
Please refer to each bank's website and be sure to compare the fees and terms of all student loan products and determine which are best suited to your needs. Note that most interest rates are determined by the sum of an Index rate (e.g., LIBOR, Prime) and a Margin that determined from your credit rating.
Disclaimer: The private loan information presented in the table is current as of January 8, 2013. Please carefully read the information provided by your lender to verify the particulars of the loan.
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LENDER LIST
|
| Bank Name |
Loan Name
|
Recently Awarded to WTS Student(s)
|
Eligibility Requirements |
Starting Interest Rate
|
Fees
|
Repayment Benefits
|
Citizens Bank
|
TruFit Student Loan
|
No
|
Enrolled at least half-time in a degree program |
Fixed: 5.75% - 11.75%
Variable: LIBOR+2.5% to 6.96%
|
None
|
Auto payments: 0.5% IRR for automating payment from any eligible Citizens Bank account
|
| Discover Student Loans |
Certified Private Loan |
Yes |
Enrolled at least half-time in a degree program |
Fixed: 6.79% - 8.99%
Variable: Prime Index + 0% to 4%
|
None |
Upon graduation: 2% cash reward on principal balance; Automatic payments: 0.25% IRR |
| PNC |
Solution Loan for Grads
|
Yes
|
Enrolled at least half-time in a degree program |
Fixed: 6.49% - 12.99%
Variable: 3.54% - 10.49%
|
None
|
Auto Payments: 0.5% IRR for automating payment from your checking or savings account
|
| Sallie Mae |
Smart Option Student Loan |
Yes |
Any enrollment status at a degree granting institution |
Fixed: 5.74% - 12.23%
Variable: 2.25% - 9.72%
|
None |
Auto Payments: 0.25% IRR for automating payment
Reward of 2% of scheduled monthly payments made on time while in school
|
| Wells Fargo |
Wells Fargo Graduate Loan |
Yes |
Any enrollment status in a degree program |
Fixed: as low as 6.89%
Variable: as low as 4.19%
|
None |
Upon graduation: 0.25% IRR to borrowers who graduate.
Auto Payments: 0.25% IRR for automating payment from your checking or savings account
|
Key: IRR = Interest Rate Reduction, LIBOR = London Interbank Offered Rate
