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Wofford College Suggested Alternative Lender List 

Charter One Bank TruFit Student Loan                           1-800-721-3969

  • No application, origination or disbursement fees
  • Eligible applicants may choose:
    • A fixed rate as low as 5.75%1 
    • A variable interest rate as low as one-month LIBOR (London Inter-Bank Offer Rate) plus 2.50%.1 This is the interest rate that London banks charge each other for loans, which is then used as a benchmark rate for banks all over the world. If you have an adjustable interest rate, the LIBOR may be the interest rate index that your lender uses to determine your interest rate. When LIBOR goes up, your rate will rise along with it, if you have an adjustable rate on your loan.
    • Actual interest rate is based on credit, presence of a co-signer and repayment option chosen.
  • Choose the repayment option that best meets your needs.
  • For students with little or no credit history, we strongly suggest that you apply with a qualified co-signer to increase your chances of being approved. A qualified co-signer may also help you secure a lower interest rate.

Discover Student Loans        1-800-788-3368

Lender ID:  831312
Guarantor Code: 748 

  • Fix interest rates will be between 5.99% and 11.24%.
  • Variable interest rates based on 3-month LIBOR + 2.74% (currently 2.99%) to 3-month LIBOR + 8.24% (currently 8.49%).
  • 0.25% Auto Debit Reward
  • Zero fees.
  • Zero payments until 6 months after graduation or enrollment in school less than half-time.
  • 15 year repayment period.
  • In-school repayment option.
  • 1% Cash Reward for Good Grades.
  • Loans up to 100% of your Cost of Attendance minus other aid, based on school certification. 

Fifth Third Bank      1-800-222-7192

  • no application or origination fees.
  • Choose between variable or fixed interest rates (for undergraduate students)
    • Variable rates range from 2.25% APR to 9.37% APR
    • Fixed rates range from 5.74% APR to 11.85% APR
    • Utilized for past due balances for an enrollment period within 365 days. It does not require SAP (Satisfactory Academic Progress).
    • Automatic debit monthly payment & receive a 0.28% interest rate reduction while enrolled.
    • If a student borrower dies or becomes permanently and totally disabled, then Sallie Mae, the loan purchaser from Fifth Third Bank, will waive all remaining payments on the loan. Additionally, cosigners will not be responsible for loans waived as a result of the borrower’s death or total and permanent disability.

Sallie Mae Smart Option Student Loan      1-888-272-5543
Lender ID:  900905
Guarantor Code: 091 

  • No origination fees.
  • Variable interest rates from 2.25% APR to 9.11% APR.
  • Fixed interest rates from 2.75% APR to 9.09% APR.
  • Borrow up to 100% of your school certified costs of education (minimum $1,000).
  • A 0.25% interest rate reduction while enrolled in automatic debit monthly payments.
  • Earn 2% back in rewards for on-time payments while in school.
  • Deferred Repayment Option. 
  • Interest Repayment Option.
  • Fixed Repayment Option.

South Carolina Student Loan Corporation:  Palmetto Assistance Loan (PAL) 1-800-347-2752
Lender ID:  833128
Guarantor Code: 745 

  • No application fee.
  • An origination fee as low as 1%.
  • Local, non-profit lender located in Columbia SC.
  • Fixed interest rate will be either 7.15% or 9.15% upon credit approval.
  • The interest rate will never change after loan approval.
  • Your PAL interest payments may be tax deductible.
  • You will receive excellent service by SC Student Loan for the life of the loan
  • If you have other loans, you will receive a single, monthly statement for all of your loans.
  • A .25% interest rate reduction for Automatic Bank Draft.

SunTrust Custom Choice Loan  1-800-552-3006
Lender ID:  911304
Guarantor Code: Q14 

  • Choice of Fixed or Variable Rate Loan.
  • No origination fees on variable rate loans. Fixed rate loans:fees may apply based on credit history and/or repayment options.
  • 4.75% to 11.25% Fixed & 3.24% to 9.24% Variable.
  • 0.25% interest rate reduction for automatic payment bank draft.
  • In-School Deferment.
  • Graduation Reward 1% principal balance reduction on every Custom
  • Cosigner can be released after 48 initial, consecutive on-time principal and interest payments.

Wells Fargo Student Loans  1-800-378-5526
Lender ID:  807176
Guarantor Code: 481 

  • Variable interest rates with APR’s as low as 3.5%.
  • Applying with a co-signer may reduce your interest rate.
  • No payments are due until six months after you leave school.
  • Once the student has graduated, the interest rate can be lowered by 0.50%.
  • A 0.25% interest rate reduction is applied when you set- up automatic payments.

Union Federal Private Student Loan  866-513-8445 
Lender Code: 907798
Guarantor Code: P15

  • Variable starting rates ranging from 2.77% to 7.27%.
  • Choose between to 5, 10, or 15 year repayment terms
  • Choose immediate repayment, interest only, student starter, or deferred payment
  • 0.25% interest rate reduction for automatic payments from your bank account.
  • 0.25% interest rate reduction for on time payments.
  • Cosigner release available after 36 on time payments.