The following is a list of lenders who participate in the FFELP program. The lenders shown on this list were selected based on the best interest of the students and their parents without regard to the financial interest of Broward Community College. Students and their parents are free to select the lending institution of their choice and will suffer no penalty imposed by the College by using a lending institution that is not on this list. You may research other lenders and their benefits and special incentives on each individual web site.
- Zero fees and three big rebates during repayment when you sign up for auto-debit
- ZERO origination and federal default fees
- 1.00% rebate at start of repayment with auto debit sign-up
- 1.00% rebate after 12 scheduled auto debit payments
- 1.50% rebate after 24 scheduled auto debit payments
- Quick online application
- Top-rated customer service
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- Zero Origination Fee
- Zero Federal Default Fee
- 1.00% interest rate reduction for graduation at repayment
- 0.25% interest rate reduction for auto-debit
- 1.00% rebate after first twelve on-time payments
- 1.00% rebate after next twelve on-time payments
- Benefit repair option after 24 months of on-time payments
- Up to 16% savings in total loan costs
- 3.00% interest rate reduction at repayment for undergraduate and graduate nursing students. Register online at www.edamerica.com/edloan
- 3.00% interest rate reduction at repayment for eligible teachers. Register online at www.edamerica.com/edloan
- On-line repayment available for you convenience
- On-time grace period of 15 days past "due date"
- Life-of-loan servicing
- Consolidation available with excellent borrower benefits
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- Zero Origination Fee
- Zero Federal Default Fee
- 0.25% interest payment reduction for borrowers who have their loan payments made with automatic debit
- 1.00% outstanding principal balance reduction after making 12 consecutive on-time payments
- 1.00% outstanding principal balance reduction after making 24 consecutive on-time payments
- 1.00% outstanding principal balance reduction after making 36 consecutive on-time payments
- Missing a payment during one of the twelve month periods does not disqualify borrower from receiving future benefit(s)
- Payments up to 15 days late are still considered on-time
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- Skip your last five payments - when you make all of your scheduled, on-time payments, you can skip the last five payments on your loan.
- Skip two additional last payments - when you allow your monthly loan payments to be automatically drafted from a personal checking or savings account, you can skip two additional last payments on your loan. (You must sign up for auto-debit within 90 days after entering repayment.)
- Bi-Lingual Call Center
- 24/7 account access
- Flexible repayment options
- Life of loan servicing
- Quick online application
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The following are the specific borrower benefits for loan applications received on or after October 1, 2007:
- Zero Origination Fee
- Zero Federal Default Fee
- 0.50 interest rate reduction when we automatically withdraw payments from a Wells Fargo checking or savings account (.25% from a non-Wells Fargo account)
- 0.50% interest rate reduction after borrowers make the first 48 consecutive on-time monthly payments
- Wells Fargo offers life-of-loan servicing (we won't sell your loans)
- Combined billing on all Wells Fargo federal and private loans
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Students who take our a Stafford Loan from Sallie Mae Education Trust are eligible to earn:
- ZERO origination fee! Sallie Mae Education Trust pays the 1.5% fee on behalf of the borrower
- Borrowers can earn account credits 4% of each of the first 12 payments made as initially scheduled, and an additional 1% on the loan **after the first 24 payments are made as initially scheduled.
- Borrowers receive a 0.50 percentage point interest rate reduction for automatic debit.
- NEW - Upromise Loan Link - for Sallie Mae Education Trust federal and private loan borrowers-helps borrowers repay their Sallie Mae-serviced loans using savings accumulated in the borrower's Upromise rewards account. Here's how it works:
- Borrower signs up for Upromise and links Sallie Mae loan account to the Upromise account.
- Borrower accumulates cash rewards through everyday purchases made from Upromise partners
- On a quarterly basis, savings balances of at least $25 are automatically transferred to pay down eligible loans, which can reduce the overall cost of borrowing.
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Brochures containing additional information on lenders are available in the Student Financial Aid Office.
Check with the lender for details and conditions regarding eligibility for Special Benefits and Incentives.
If you default on your loan and it is purchased by a guarantor, any interest rate reductions will no longer be applicable.
All lender list information contained in this site has been provided through individual lenders and is updated continually or upon request. Incentives and benefits referred to herein may vary. Please contact the lenders directly for updated information and/or visit the lender web sites for additional rate and disclosure information including Annual Percentage Rate (APR) examples.
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