Preferred Lenders

The difference in the preferred lenders is measured in terms of customer service, savings programs and repayment options. To assist in this decision, the Chicago Financial Aid Office has compiled a list of institutions that we consider excellent in the educational lending field. Staff in the Financial Aid Office cannot make a specific recommendation from this list. If you need further information, contact the lender or see the attached charts.

Please note that lenders may change the terms and conditions of their loans at any time.

An informed decision will depend upon a careful review of the aspects outlined on the following comparison charts:

For more information on how these lenders were selected, see our web page Choosing Preferred Lenders.

Stafford Preferred Lenders

All of the preferred lenders listed below share the following terms and requirements:

  • Online access for loan status: Yes
Lender & URL Interest Rate Origination Fee Borrower Incentives

Northwestern University
www.salliemae.com
(Sallie Mae services Stafford
Loans for NU Student Loan
Office)

 Fixed 6.8% 0.5% when guaranteed
on or after July 1, 2008		 See the Northwestern Stafford Loans web page for incentives
Access Group, Inc.
www.accessgroup.com		 Fixed 6.8% 1.0% for loans disbursed April 8, 2009 - June 30, 2009. 0.5% for loans disbursed on or after July 1, 2009. See the Access Group web site for incentives
Citibank
www.studentloan.com		 Fixed 6.8% 1.0% for loans disbursed April 8, 2009 - June 30, 2009. 0.5% for loans disbursed on or after July 1, 2009. See the Citibank web site for incentives
Discover Student Loans
http://www.discoverstudentloans.com/		 Fixed 6.8% 0.0% through August 31, 2009. 0.5% for all applications received on or after September 1, 2009 See the Discover web site for incentives
Edamerica
www.edamerica.net		 Fixed 6.8% 1.0% for loans disbursed April 8, 2009 - June 30, 2009. 0.5% for loans disbursed on or after July 1, 2009. See the Edamerica web site for incentives
Wells Fargo
www.wellsfargo.com/student		 Fixed 6.8% 1.0% for loans disbursed April 8, 2009 - June 30, 2009. 0.5% for loans disbursed on or after July 1, 2009. See the Wells Fargo web site for incentives

Graduate PLUS Preferred Lenders

All of the preferred lenders listed below share the following terms and requirements:

  • Online pre-approval: Within 24 hours
  • Eligibility: The credit requirement is based on set federal standards. The debt-to-income ration is not considered for approval. A co-signer is optional for students who are rejected on their own signature.
Fixed 8.5%
Lender & URL Interest Rate Origination Fee Approval Rate Repayment Incentives & Options
Access Group, Inc.
www.accessgroup.org		 Fixed 8.5% 3% 87%
  • See the Access Group web site for incentives
  • Repayment begins 60 days after graduation or withdrawal
  • Standard repayment is 10 years (may be extended to 25)
Citibank
www.studentloan.com		 Fixed 8.5% 3% 87%
  • See the Citibank web site for incentives
  • Repayment begins 60 days after graduation or withdrawal
  • Standard repayment is 10 years (may be extended to 25)
Discover Student Loans
http://www.discoverstudentloans.com/

Fixed 8.25% for all loans intiated prior to September 1, 2009.

8.5% for all loans initiated on or after September 1, 2009.

 3% 63%
  • See the Discover web site for incentives
  • Repayment begins 60 days after graduation or withdrawal
  • Standard repayment is 10 years (may be extended to 25)
Edamerica Graduate
www.edamerica.net		 Fixed 8.5% 3% 55%
  • See the Edamerica web site for incentives
  • Repayment begins 60 days after graduation or withdrawal
  • Standard repayment is 10 years (may be extended to 25)
Wells Fargo
www.wellsfargo.com/student		 Fixed 8.5% 3% 73%
  • See the Wells Fargo web site for incentives
  • Repayment begins 60 days after graduation or withdrawal
  • Standard repayment is 10 years (may be extended to 25)