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Midland College Alternative Education Loan Programs

For your information the following provides general information to better assist you in reaching a decision regarding which specific private loan program best suits your needs. The following is for your information only. Midland College does not endorse any one of the following private loan programs over another. Please note the information can be subject to change. It is advisable to always contact the lender for the most recent information, particularly with regards to interest rates or loan initiation fees.

Lender
Alternative Loan Notes
Wells Fargo
Wells Fargo Education Connection Loan
www.wellsfargo.com/student
1-800-658-3567

• No origination, disbursement, or repayment fees
• School certification not required
• Borrow up to $25,000 per year
• 0.50% interest rate reduction for making automatic payments from a Wells Fargo checking or savings account (or 0.25% from a non-Wells Fargo account)
• 0.50% interest rate reduction for making the first 48 consecutive monthly payments on time
• Cosigner release option after making the first 24 consecutive on-time monthly principal and interest payments

LoanStar Express Loans
www.loanstar.com
1-877-714-3620

• School certification not required Borrow up to $25,000 per year
• 0.25% interest rate reduction for making automatic payments from a checking or savings account Co-borrower release option after 24 on-time monthly principal and interest payments

Bank One
Education One Loan
www.educationone.com
1-888-661-8663    • Origination fee: 5.00% to 10.50%
• $1,500 to $30,000 available per year
• Repayment options available
Bank of America
Private Loans
www.bankofamerica.com
1-800-344-8382    • Low interest rate
• Fast, convenient application process
• Funding in as little as 5 business days or less from receipt of completed application
• Flexible repayment options, including deferring payments until after graduation

Bank of America TERI Loans
www.teriloans.com
1-866-270-3182

• Low interest rate
• Defer payments until after graduation Fast, convenient application process
• Funding in as little as 5 days or less from receipt of completed application
• Flexible repayment options

Sallie Mae
Career Training Loans
www.slmfinancial.com
1-888-272-5543 • Borrow $1,000 up to the total cost of the education, less other financial aid received
• Interest rates start at Prime + 1.00% with fees as low as 2.00% for borrowers with excellent credit
• Repayment begins 30 days after disbursement with 15-year repayment option; $30 minimum payment
• 12-month deferment repayment option for qualified borrowers

TERI
Continuing Education Loan
www.teri.org
1-800-255-8374 • Low interest rate
• Fast, convenient application process
• Funding in as little as five days or less from receipt of completed application
• Borrow up to $15,000 annually
• Defer repayment for up to two years

Wachovia Education Finance
Educaid Select Loan
www.educaid.com
1-800-338-2243

• Low interest rate of Prime + 0%
• Zero origination fees
• Interest rate of 0.50% below Prime available during repayment
• Borrow from $500 to $45,000 annually (no aggregate limit)
• Use funds for prior academic periods or years
• Apply alone or with a co-borrower

For more information please contact:
Lupe Daniels
Loan Coordinator
ldaniels@midland.edu
(432) 685-4693

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