Loans

Finance Your Education

LoanBorrowerMax Amount/YearCurrent Interest RateCredit Check?Initial Fees
StaffordStudent$5,500 (freshman)4.53% or 6.08% (fixed)No1.1% (estimated)
PlusParentUp to full cost of school7.08% (fixed)Yes4.3% (estimated)
AlternativeStudent, usually with a cosignerUp to full cost of schoolBased upon credit (variable)YesVaries

Federal Stafford Loan

Federal Stafford Loan

Federal Plus Loan

Alternative Loan

Amount Varies. Not to Exceed Cost of Attendance.

Students whose financial aid awards do not meet their financial needs may be able to borrow up to their cost of attendance. These loans typically require a credit check and often a cosigner. Interest rates are usually based on the prime rate or LIBOR, plus a fixed percentage based on the borrower’s or cosigner’s credit rating.

Below is a list of lenders from whom our students have borrowed, over the last two years. You are free to choose any lender who provides an Alternative Loan even if they are not on this list.

The Financial Aid Office will strive to process your loan quickly and accurately regardless of the lender you choose. Your alternative loan is yours, so be informed and ask questions of your lender or prospective lenders.

LenderPhoneApplication
Ascent Student Loans877.216.0876Application
College Ave Student Loans844.422.7502Application
Discover Student Loans (831312)1.800.STUDENTApplication
Lendkey Technologies, Inc.888.549.9050Application
Massachusetts Educational Financing Authority (MEFA)800.266.0243Application
Sallie Mae Student Loans1.877.279.7172Application
SoFi Lending Corps855.456.SOFIApplication

Neither Bryan College nor the Financial Aid Office benefits from your choice of lender.

Title IV Loan Code of Conduct

The Higher Education Opportunity Act conditions the eligibility of educational institutions to participate in Title IV programs on the development of and compliance with a code of conduct prohibiting conflicts of interest for its financial aid personnel [HEOA § 487(a)(25)]. Bryan College’s officers, employees, and agents are required to comply with this code of conduct. The following specific provisions bring Bryan College into compliance with the federal law [HEOA § 487(e)].

  1. Neither Bryan College as an institution nor any individual officer, employee or agent shall enter into any revenue-sharing arrangements with any lender.
  2. No officer or employee of Bryan College who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or agent who has responsibilities with respect to education loans, or any of their family members, shall solicit or accept any gift from a lender, guarantor, or servicer of education loans. For purposes of this prohibition, the term “gift” means any gratuity, favor, discount, entertainment, hospitality, loan, or other item having a monetary value of more than $10.
  3. An officer or employee of Bryan College who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or another financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or another contract to provide services to a lender or on behalf of a lender relating to education loans.
  4. Bryan College shall not: a. for any first-time borrower, assign, through award packaging or other methods, the borrower’s loan to a particular lender; or b. refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
  5. Bryan College shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to students in exchange for the institution providing concessions or promises regarding providing the lender with: a. a specified number of loans made, insured, or guaranteed under Title IV; b. a specified loan volume of such loans; or c. a preferred lender arrangement for such loans.
  6. Bryan College shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
  7. Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or another student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.

Preferred Lender Policy

Bryan College does not have or maintain a preferred lender list. For Stafford and PLUS loans Bryan College participates in the Direct Loan program, making a preferred lender list nonapplicable. For alternative loans Bryan College lists every lender whom our students have borrowed from in the last two years. This does not meet the definition of a preferred lender list.

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