South Carolina Student Loan Corporation
Website: http://www.scstudentloan.org/
- Borrowers can borrow up to their cost of attendance minus any other form of Financial
Aid. - There is a lifetime aggregate max of $150,000.
- There is an annual minimum of $2000.
- There is a repayment term of 10 years if balance is less than $17,500.
- There is a repayment term of 15 years if balance is more than $17,500.
- There is no origination fee.
- Borrowers can qualify for a 0.25% reduction in interest rate if they enroll in automatic
monthly payments. - A cosigner is required if borrower is under the age of 24 or is 24 and older but not credit-
worthy. - There is a fixed interest rate of 3.99% to 6.99%.
- 5.99% if borrower elects to make monthly interest payments while in school.
- 6.99% if borrower elects to not make interest payments while in school (must still pay
$25/month). - Borrowers must be enrolled at least half-time (6 credit hours) in a certificate, diploma, or
degree program. - Borrowers must maintain SAP (Satisfactory Academic Progress as defined by the college
for other financial aid. - Borrowers can choose between a fixed $25 per month payment option or pay the full
monthly accrued interest after disbursement
Sallie Mae Smart Option Loan
Website:
- Borrowers can borrow up to their cost of attendance minus any other form of Financial
Aid. - Borrowers can choose between a fixed $25 per month repayment option or pay the full
monthly interest payment after disbursement. - There are no disbursements or origination fees.
- Borrowers can qualify for a 0.25% reduction in interest rate if they enroll in automatic
monthly payments. - Borrowers can be less-than-part-time and still receive loan
- You can apply to release your cosigner from your loan after you graduate and make
twelve consecutive on time principal and interest payments. - Borrowers do NOT have to be meeting SAP (Satisfactory Academic Progress).
- A cosigner is required if the student borrower is not credit worthy.
- Variable 7.02%-12.45%
- Fixed interest rates range from 5.74% to 11.85%.
- Borrowers must be enrolled in an eligible certificate, diploma, or degree program to
receive loan. - Student and/or co-signer must be credit worthy.
- There is an annual minimum of $1000.
Wells Fargo
Website: https://wfefs.wellsfargo.com/terms/AppDisclosureFilter
- Borrowers can borrow up to their cost of attendance minus any other form of Financial
Aid. - Borrowers can qualify for a Graduation Discount. 0.25% interest rate reduction upon
successful graduation. - Borrowers can qualify for an Automatic Pay Discount. 0.25% interest rate reduction for
enrolling in automatic payments. - Variable interest rates range from 5.00% APR to 10.43% APR.
- Fixed interest rates range from 7.24% APR to 12.45% APR.
- Borrowers will not incur an application or origination fee, and no penalty for paying off
your loan early. - You can apply to release your cosigner from your loan after you graduate and make
twelve consecutive monthly payments are made on time and student borrower meets
certain credit requirements. - Borrowers must be enrolled in an eligible certificate, diploma, or undergraduate degree
program to receive loan. - You may qualify for this loan even if you are enrolled less than half time.
- You must be a U.S. citizen, U.S. national, permanent resident alien without conditions, or
international student who is a temporary resident alien with a current U.S. address and
proper evidence of eligibility.