| The Campus Door Education
Loan |
 |
| For many students and
their families, The Campus Door Alternative Loan is a loan
solution that offers a 12 month grace period to all borrowers.
|
| Interest
Rate: |
- Variable, Prime Rate + 1%1
|
| Fees: |
- 0%, 5% or 7% based on credit history
|
| Loan
Limit: |
- $120,000 undergraduate
- $90,000 Graduate
|
| Repayment: |
- No In-school payments required
- 20-year repayment term
- No prepayment penalty
- 12 month grace period after graduation or
- 6 month grace period once a student drops below half-time
enrollment
|
| Credit
decisions: |
- Instant online credit decisions
|
| Discounts: |
- 0.25% interest-rate discount when monthly payments are
automatically deducted from a checking or savings account
- 0.25% interest rate discount after 48 months of on-time
payment
|
| Co-signer Release: |
For those who
borrow with a co-signer, the co-signer may be released from
obligation after 48 months of on-time payment. A credit check
will be performed on the borrower and the request must be
in writing. |
Eligibility Requirements
To be eligible for a Campus Door Education Loan, the borrower
must be:
- At least 18 years old (19 in Nebraska)
- Borrower or co-borrower must be a U.S. citizen or eligible
non-citizen.
- Enrolled in an eligible institution at least half-time and
in a degree seeking program
The Campus Door Consumer Education
Loan is offered by AFC in cooperation with Campus Door. AFC
is the marketing agent for the originating lender.
Footnotes
1 The ANNUAL PERCENTAGE RATE will vary and is indexed to the Prime
Rate as published in the Wall Street Journal
Updated: 10.01.2005
|