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Clayton State University Financial Aid

Loan Consolidation Benefits

Bank of America Nellie Mae
Chase Bank Regions Bank
Citibank Student Capital Corporation
College Loan Corporation (CLC) SunTrust/Nelnet
EdAmerica Wachovia
Georgia Student Finance Commission (GSFC)  

 

 

 

Bank of America
http://www.bankofamerica.com/studentbanking/

  • An immediate 0.25% interest rate reduction with auto debit.

  • 1.00% interest rate reduction after 36 consecutive, on-time payments.

  • Extended repayment term up to 30 years (depends on amount consolidated).

  • Fixed interest rate that stays the same for the life of the loan.

  • No origination fee, no prepayment penalties or any other charges for getting a consolidation  loan.

  • Choose standard, graduated, income-sensitive or extended repayment plans.

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Chase Bank

  • 0.25% interest rate reduction for maintaining ACH payments during repayment.

  • 1.00% interest rate reduction after 36 consecutive, initial on time, monthly payments.

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Citibank
http://www.studentloan.com/

  • Receive a 0.25% interest rate reduction with our E-Z Pay plan.
  • Receive a 1.00% interest rate reduction after your first 36 consecutive monthly on-time payments.
  • Pay nothing the first 4 months - The Citibank 4-month Lender Option Forbearance lets you choose to pay interest only or make no payments at all and have the interest capitalized back into your loan.
  • Manage your student loan account online www.studentloan.com you can view your account and make changes, choose a repayment option, and make payments – all online.
  • Flexible Repayment Options - We provide customized options for lowering or deferring payments while you're studying, transitioning into your professional career, or during times of financial difficulty.

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College Loan Corporation (CLC)
http://www.collegeloan.com/

  • 2% cash rebate, up to $2,000, of the principal balance outstanding after making 9 consecutive, scheduled payments on time if the new consolidation loan balance is at least $50,000.
  • Borrowers with a balance under $50,000 may receive a 1% cash rebate, up to $500, of the principal balance outstanding after making 9 consecutive, scheduled payments on time.
  • 0.25% interest rate reduction for enrolling in automatic payments.
  • Commitment to life-of-loan servicing.
  • College Loan Corporation loan consultants available to borrowers 24 hours a day, 7 days a week to assist with the application process.
  • Federal Consolidation Loans carry a fixed interest rate for the life of the loan.
  • No fees for Consolidation Loans.

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EdAmerica
http://www.edamerica.net/

  • Fixed rates as low as 5.38%.

  • Debt management counseling to help select the best repayment option.

  • 0.25% rate reduction with auto-debit.

  • 1% rate reduction after 36 consecutive on-time automated payments.

  • Combined billing.

  • Life-of-loan servicing.

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Georgia Student Finance Commission (GSFC)
http://www.gsfc.org/

 

  • Make one convenient payment every month.

  • Lock in a low fixed rate.

  • Lower your interest rate! Receive a 0.35% interest rate reduction by using the GSFC auto-debit service.

  • Use one of FOUR types of repayment plans: Standard, Graduated, Income-Sensitive, and Extended.

  • You have the ability to consolidate your Stafford Loans, Perkins Loans, PLUS Loans, Health Professions Loans, and Nursing Profession Loans.

  • No prepayment penalty if you decide to pay off your consolidated loan early.

  • GSFC offers a minimum loan consolidation of $3,500.

     

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Nellie Mae
http://www.nelliemae.com/

  • 1% interest rate reduction after 36 monthly payments on time.
  • 0.25% when signing up for Direct Repay.

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Regions Bank
 http://studentloans.regions.com/

  • One full percentage point reduction in the interest rate, during periods of active repayment, after the first 36 scheduled payments. 
  • To be eligible for this benefit, the initial consolidation balance must be at least $10,000. Immediate 0.25% reduction in the interest rate for signing up for automatic debit and making payments electronically. To be eligible for this benefit, the initial consolidation balance must be at least $7,500.

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Student Capital Corporation
 www.studentcapital.net

  • 2% cash rebate, up to $2,000.
  • 0.25% interest rate reduction for enrolling in automatic payments.
  • Quick turnaround based on industry standards.
  • Flexible repayment options.
  • Commitment to life-of-loan servicing.
  • Customer care representatives available 24/7 to assist with the application process.

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SunTrust/Nelnet
http://www.consolidation.nelnet.net/

  • 3.33% principal loan reduction to be applied after 30 initial, regular, on-time payments. You must also maintain a valid email address to be eligible for this option OR 1.0% interest rate reduction after 36 initial, regular, on-time payments when an application is electronically signed.
  • 0.25% interest rate reduction for making auto-debit payments.

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Wachovia
http://www.educaid.com/

 

  • No minimum balance.

  • No fees.

  • No credit check or co-borrower.

  • 1.5% reduced interest rate after 24 months of ACH payments, available in or out of school,     monthly payments cut by 50%.

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