Private or Alternative Student Loans

A number of major lenders offer credit-worthy students and /or their parents the opportunity to borrow privately in order to meet educational costs not covered by their financial aid awards. In most cases a credit worthy co-signer is required unless the student has significant income. Some require a minimum of half-time enrollment and some require satisfactory academic progress. Families are encouraged to carefully review and consider the terms of any private loans prior to applying. It is important to remain with the same lender throughout your education, if possible. Shaw University requires that you receive pre-approval and complete the promissory note before the Financial Aid Office will certify your alternative loan. The Financial Aid Office will receive confirmation directly from the lender when you have been credit-approved. The lenders listed below are lenders previously used by students At Shaw University. Please review and consider your choice wisely.

SallieMae 1-888-272-4665 www.salliemae.com	LENDER ID 802218	No origination fees Borrowers receive a 0.25 percentage point interest rate reduction for automatic debit from their checking or savings account. Defer payments after graduation
1-877-728-3030 www.discoverstudentloans.com	LENDER ID 831312	No origination fee No payment due until six (6) months after graduation or enrolled less than half-time
1-800-378-5526 www.wellsfargo.com/student/loans	LENDER ID 807176	No application, origination, or payment fees Defer payments until after graduation or enrolled in less than half-time
1-866-763-6350 www.suntrusteducation.com	LENDER ID 820564	No origination fee Defer payments until after graduation or enrolled in less than half-time Generous repayment terms