Private Alternative Loan Lender Comparison Chart

Standard Information:

Students should exhaust their full eligibility in federal loans before resorting to a private loan. Federal loans may have more beneficial terms than the private loans available.
Variable interest rate
Eligibility based on creditworthiness, as determined by the lender
Loan amount determined by cost of attendance, minus other financial aid
No prepayment penalty
Flexible repayment and deferment options available
Apply directly with the lender

Lender	Fees, Interest Rates, Special Benefits/Incentives
Sallie Mae Smart Option Student Loan	No disbursement or repayment fees, regardless of the applicant's or cosigner's credit Rates range from LIBOR + 2.875% to LIBOR + 10.25% 0.25% interest rate reduction for payment made via auto debit Six month grace period before principal payment begins Interest payments begin immediately upon first disbursement (for new academic year 10-11 applications initiated on or after June 28, 2010, there will be a new $25/month fixed repayment option available for all applicants) Co-signer release option once student begins principal payments Satisfactory academic progress is not required Combined billing available International students with an eligible U.S. co-signer may apply

Citibank CitiAssist Alternative Loan	Origination fees 0.00% OR 3.00% Rates range from 3-month LIBOR + 3.75% to 3-month LIBOR + 11.50% 0.25% interest rate reduction for automatic payments from bank account Co-signer release after 24 on-time payments

Citizens Bank TruFit Student Loan	Interest rates range from LIBOR +3% to LIBOR +11.25%(Borrower with co-signer margin range of LIBOR +3% to 10.75%; Borrower only margin range of LIBOR +4.75% to 11.25%) Zero fees 0.50% interest rate reduction for automatic payments from any Citizens Bank account Cosigner release option available after 36 on-time consecutive payments Six month grace period Satisfactory academic progress is not required Can be used for previous school balances

JP Morgan Chase Chase Select Private Student Loan	No origination or repayment fees Interest rates that recognize good credit (for current interest rate information, please visit Chase online) Lower rates may be obtained by applying with a qualified cosigner 0.25% interest rate reduction for automatic payments from bank account Cosigner release option available after 36 on-time consecutive payments No payments required while in school Six month grace period Loans originated and serviced by Chase

National Education Smart Option Student Loan made by Sallie Mae	No fees (disbursement or repayment) Interest rates range from LIBOR +2.5% to LIBOR +9.875% 0.25% interest rate reduction for automatic payments from bank account Six month grace period before principal payment begins Interest payments begin immediately upon first disbursement Co-signer release option once student begins principal payments Combined billing available International students with an eligible U.S. co-signer may apply