Private Loan
Lender Panel
Moderated by:
Mike Mutziger, Great Lakes
Bank of North Dakota
Contact Information
• Roxy Jacobson, Student Loans Communication Specialist
• Phone: 701-328-5785
• Email: roxyjacobson@nd.gov
• Tom Ternes, New Loans Supervisor
• Phone: 701-328-5658
• Email: tternes@nd.gov
• New Loans Team -701-328-5763
DealStudentLoan.nd.gov
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Bank of North Dakota
• Eligibility Requirements
– State of legal residence OR school attending must be located in one
of the following states:
• North Dakota, South Dakota, Minnesota, Montana, Wyoming or Wisconsin.
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U.S. citizen
Meeting SAP
No loans in default.
Complete the FAFSA
School Certification
Meet credit criteria or have creditworthy cosigner
• Credit Checks
– Credit report is good for 180 days
– School certification is required
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Bank of North Dakota
• Rates and Terms
– Variable & Fixed rates (No risk based pricing)
– 3.75% Administrative Fee. (Fee paid for ND residents)
– 6 months grace period ; 10-25 year repayment terms.
– .25% reduction for ACH
– Deferment and Forbearance options
• Co-signer Requirements
– Meets credit criteria
– A cosigner release after 24 consecutive on-time regular
payments & borrower must be creditworthy
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Contact Information
• Atiya M. Coleman Young, Account Executive
Email: atiya.m.coleman-young@citizensbank.com
Phone: 630-861-7468
• Website: www.citizensone.com/student-loans
• School Services: 888-333-0169
• Borrower Services: 800-708-6684
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Citizens One Student Loan/Parent Loan
Eligibility Requirements
• Execute an application, promissory note, and any other supporting
documentation such as income verification.
• Satisfy all credit requirements.
• Have no prior student loan defaults.
• Be at least 18 years of age and have attained the age of majority in their
state of residence.
• Be a U.S. citizen or permanent resident with a valid U.S Social Security
number living at a U.S. address.
Additional Requirements for Parent Loan
•Is not limited to parents, relatives or legal guardians.
•The student whose education the funds will benefit must be attending
an eligible school.
•The student must be a U.S. citizen or permanent resident.
Credit Checks
•Good for 90 days
•School needs to certify/disburse within 180 days
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Citizens One Student Loan/Parent Loan
Rates and Terms
The Student Loan
•Range of rates which will vary by
student’s degree and field of study.
• Interest rates are based on FICO
scores. For loans with a cosigner
present, the approved interest rates
will be driven by the cosigner’s credit
score.
•Offers borrowers a choice of a fixed
or variable interest rate.
The Parent Loan
•Fixed rate only loan and is priced to be
an attractive alternative to the federal
Parent PLUS loan for approved
applicants.
•Interest rates will be driven by the
borrowers choice of repayment term.
•We offer immediate and interest-only
repayment with a choice of a 5 or 10
year term.
All borrowers can save up to .50 percentage points off their interest
rate with a combination of discounts.
Co-signer Requirements
• Have attained the age of majority in their state of residence.
• Be a U.S. citizen or permanent resident living at a U.S. address.
• Satisfy all credit requirements.
• Option for Co-signer is not available for Parent Loan
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Discover Student Loans
Contact Information
• Rebecca Hedrick, Relationship Manager
Phone: 316.744.2610
Email: RebeccaHedrick@discover.com
• Priority Services (For FAAs):
877.321.5018
FAOService@DiscoverStudentLoans.com
• Customer Service (For Borrowers) 24/7:
800-STUDENT
Servicemembers:
844-DFS-4MIL
• www.DiscoverStudentLoans.com
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Discover Student Loans
• Eligibility Requirements
– Enrolled at least half-time and making satisfactory academic
progress in an undergraduate, graduate, health professions,
law, MBA or other business degree
– Residency and bar study loans available
– Degree seeking
– US citizen, permanent resident or international student
(International students require a co-signer)
– Must pass a credit check
• Credit Checks
– Good for 120 days
– Schools should certify as soon as possible
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Discover Student Loans
• Rates and Terms
– Zero Fees for the life of their loan
– Variable and Fixed rate loan options
– 1% Cash Rewards for Good Grades
– 0.25% Auto Debit Reward
• Co-signer Requirements
– At least 18 years old
– US citizen or permanent resident
– Must pass a credit check
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First Marblehead Corporation
First Marblehead is a leading provider of private
student loan solutions for lenders, credit unions, and
schools. We help meet the growing demand for
education financing by offering clients a complete and
integrated suite of outsourced services for private
student loans, including underwriting, loan
origination, and portfolio risk management.
Julie Finn, Relationship Manager
(217) 243-8479
Jfinn@fmd.com
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Lender Partners
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SunTrust Bank
Union Federal Private Student Loan
Kinecta Federal Credit Union
Higher Education Servicing Corporation
Thrivent
Cology and Tuition Management Systems (TMS)
Presentations Available
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Private Student Loans 101
Challenging Negative Attitudes
First Aid for Stress
Federal vs Private Loans
Financial Literacy
iHELP Student Loans
Contact Information
• Reid Moehn, VP of the Midwest Region
Phone: 612-354-2837
Email: rmoehn@ihelploan.com
• Craig Green, SLFC, Marketing Manager
Phone: 605-622-4507
Email: craigg@slfc.com
• Customer Support
Phone: 1-800-645-7404
Website: www.ihelploan.com
Email: gethelp@ihelploan.com
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iHELP Student Loans
• Eligibility Requirements
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U.S. Citizen or permanent resident (or co-signer)
Enrolled at least half time at an eligible school
Must be of legal age
Meet certain financial criteria
• Credit Checks
– Applicants credit scores are good for 90 days
– School needs to certify attendance and amount requested, and
remains good through school designated disbursement date
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iHELP Student Loans
• Rates and Terms
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Variable rate ranging from LIBOR +2.5% - LIBOR +7.5%
No Application, Origination, or Prepayment fees
Maximum: Undergraduate is $100,000 and Graduate is $150,00
3 payment options while in school, 3 after graduation
• Co-signer Requirements
– Not Required but generally helps students get a lower rate
– Meet financial requirements
– Students can apply to have cosigner released after 24 on time
payments
• Consolidation
– 4 Fixed Rates options
– Can Consolidate Private, Federal, Parent Plus
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Sallie Mae
Contact Information
• Brad Riebel - Director, Business Development
612-206-6426
brad.riebel@salliemae.com
• Sallie Mae School Assist
1-844-827-7478
SchoolAssist@salliemae.com
• Borrower Customer Service
1-800-472-5543
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Sallie Mae
Smart Option Student Loan
• Eligibility Requirements
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Minimum enrolled 1 credit
365 day “look-back”
Meets credit requirements or has credit worthy co-signer
U.S. Citizen or meets other criteria
undergrad., graduate, Bar Study, Residency & Relocation
• Credit Checks
– Credit approval is valid for 180 days
– School certification must be completed so that 1st
disbursement can be made within 180 days after
application date
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Sallie Mae
Smart Option Student Loan
• Rates and Terms
– No Fees. Discounts & addt’l benefits available
– Variable and Fixed interest rate options
– Defer, interest-only or $25/mo payments
– Graduated Repayment Period available
• Co-signer Requirements
– Co-signer recommended but not required
– Release option after 12 months of on-time
payments (borrower credit check required)
– Ability, Stability, Willingness to pay
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MN Office of Higher Education (SELF Loan)
Contact Information
• Marilyn Kosir, SELF Loan Manager
Phone: 651-355-0600
E-mail: Marilyn.Kosir@state.mn.us
• Sheila Price, SELF Loan Supervisor
Phone: 651-355-0602
E-mail: Sheila.Price@state.mn.us
• Customer Service:
651-642-0567 or 800-657-3866
• www.selfloan.state.mn.us
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MN Office of Higher Education
(SELF Loan)
• Eligibility Requirements
– MN residents attending eligible institutions in-state or
out-of-state
– Non-residents physically attending eligible institutions in
Minnesota
– Seeking degree, certificate or license
– Attending at least half-time
– Credit worthy co-signer
• Borrowing Limits
– Minimum amount is $500
– Maximum is $7,500 or $10,000 depending on the program
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MN Office of Higher Education
(SELF Loan)
• Rates and Terms
– No Fees
– Variable (3.3%) & Fixed (6.5%)
• Co-signer Requirements
– Meet credit requirements
– Must be 24 years of age unless a sibling. (Sibling can be 18
years of age)
– Must be US Citizen or Permanent Resident residing in the US
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Contact Information
Brian Cox
Business Development Advisor for Thrivent
Direct: 916-281-3538
bcox @cology.com
Program Information:
https://www.thriventcu.com/personal/student-loans/
For Students and Families:
For general questions on student lending and membership call 866-226-5225
For questions about applying or an existing application call 866-540-3191
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Smarter Student Loans Start with a Higher Purpose - at Thrivent, we do
more than help members manage their finances. We help them make
wise money choices through every phase of their life.
Eligibility Requirements
• Undergraduate and Graduate Loans where student enrolled at least
half-time
• 1,200 eligible schools, primarily 4yr Public/Private
• Easy online application process including CU membership
• Cost Less Aid Annually Up to $80,000 Lifetime
Credit Checks
• Good for 90 days
• School needs to certify/disburse within 150 days
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Rates and Terms
• Rates currently as low as: 2.18%1 variable rate or 5.20%2 fixed rate,
line of credit 2.25%3 variable rate
• No Fees4 and rate discount of .25% with automatic payment5
• Repayment terms
– Thrivent Private Student Loan: Up to 15 years
– Thrivent Student Tuition Line: Up to 25 years
Co-signer Requirements
• Strongly recommended
• Consideration of credit score, debt-to-income ratio, credit history
• Cosigner release option after 24 on time payments or in case of death
of the student borrower
1 Variable-rate
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– APR effective April 1, 2015 and range from 2.18% - 9.25% APR tied to LIBOR; based on
borrower(s) creditworthiness and repayment option.
2 Fixed-rate – APR effective April 1, 2015 and range from 5.20% - 10.49% APR; based on borrower(s)
creditworthiness and repayment option.
3 Variable rate Line of Credit - APR effective April 1, 2015 and range from 2.25% - 9.25% APR tied to LIBOR;
based on borrower(s) creditworthiness and repayment option.
4 No minimum, fixed, transactional or similar fees and no membership or participation fee.
5 Automated payment discounts apply when full payment of principal and interest are automatically
deducted from a bank account. Discount will continue unless (1) automatic deduction of payment is stopped
(including when loan is deferred or in forbearance) or (2) automatic deductions are denied by your bank two
times.
Wells Fargo EFS
Contact Information
• Jana Vanderah, AVP/Market Relationship Manager
phone: 952.226.2909
email: Jana.L.Vanderah@wellsfargo.com
• Carin Kruger, AVP/Market Relationship Manager
phone: 605-595-2557
email: Carin.M.Kruger@wellsfargo.com
• Client Services Team:
1-877-699-5444
• Customer Service for borrowers:
1-877-451-5039
• www.wellsfargo.com/student
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Wells Fargo EFS
• Eligibility Requirements
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Minimum enrollment 1 credit
Seeking degree, certificate or license
Meets credit requirements or has co-signer that does
U.S. Citizen or meets other criteria
Meets SAP for Grad only
• Credit Checks
– School needs to certify within 180 days of initial
application
– After certification, no time limit regardless of
disbursement date
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Wells Fargo EFS
• Rates and Terms
– No Fees
– Up to 1% in discounts
– Variable & Fixed rates
• Co-signer Requirements
– Meets credit requirements
– Release options after first 24 months of on-time payments
(borrower credit check required)
– If borrower denied loan, co-signer is given option to be
primary borrower on Student Loan for Parents
• UG, Graduate, Medical, Bar, Parent, and
Consolidation Loans available
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