Norfolk State University

Available Loans and Lenders

The borrower can choose and NSU will process loan applications from any Federal Family Education Loan Program (FFELP) lender. The Financial Aid Office provides a list of lenders as a resource for NSU students and their families; these lenders have competitive rates and benefits, good customer service, and are capable of delivering loan proceeds quickly using the NSU electronic loan delivery processes.

IMPORTANT: Effective February 14, 2010 all students are required to submit a self-certification form to their lender, if borrowing a private loan, prior to NSU receiving a request to certify the loan. This is a new federal requirement under Regulation Z-§226.48 (f). For additional information visit http://www.fdic.gov/regulations/laws/rules/6500-1800.html#fdic6500226.48 .

Norfolk State University Preferred PLUS Lender List

When you have decided on a lender, click on the lender logo to proceed to the next step. Please read and follow all instructions carefully to ensure the timely processing of your loan.

Graduate students should apply for the Graduate PLUS Loan available from your lender choice.

PLEASE NOTE: IF YOU HAVE PREVIOUSLY BORROWED A PLUS LOAN AND DO NOT SEE YOUR LENDER LISTED BELOW, PLEASE CLICK HERE.

Lender

Benefits

Rates

Lender code: 831312

Phone:1-877-728-3030

0.25% interest rate reduction for making payments using automatic debit

Interest rates as low as 8.00%

Lender code: 807176

Phone: 1-800-658-3567

8.5% fixed rate

Lender code: 802218

Phone: 1-800-891-1410

0.25% interest rate reduction for making payments using automatic debit

Interest rates as low as 8.50%

Lender code: 820564

Phone: 1-800-552-3006

0.25% interest rate reduction for making payments using automatic debit

8.5% fixed rate

Alternative Loans

Alternative loan applications may be completed by the student or the parent, and must be completed annually. These loans are credit-based, and the approval criteria is established by the lender. Select a lender and read and follow ALL instructions to ensure accurate and timely processing of loan.

Most lenders require a cosigner for undergraduate students. The cosigner is equally liable for the loan when repayment begins. Find out What Makes a Good Cosigner?

Lender

Benefits

Rates

Smart Option Student Loan

Phone: 1-800-695-3317

0.25% interest rate reduction for auto-debit
Co-signer release available (after the borrower completes their education)
0.25% interest rate reduction for receiving all servicing communications via email

Interest rate: LIBOR + 2.5% to LIBOR + 9.5%.
Manage your credit well and get a lower interest rate.
Make interest payments during school so you have a lower amount to repay.

Academic Answer Loan

Phone: 1-866-763-6350

0.25% interest rate reduction for making payments using automatic withdrawal
No upfront fees
Defer payments while in school; 6 month grace period after graduation
Graduation Reward - $300 Principal Reduction per loan with proof of graduation
Cosigner release available

Rates as low as LIBOR + 3%, currently a 3.625% interest rate and 3.46% APR

Discover^® Private Education Student Loan

Phone: 1-877-728-3030

Up to 0.25% rate reduction for making payments using auto-debit
No payments while in school at least half-time
Zero fees and 2% Graduation Reward

Competitive interest rates as low as Prime minus 0.5%

Student Loan Programs

Phone: 1-800-658-3567

Up to 0.75% rate reduction
Cosigner release available
6 month grace period
No origination, disbursement or repayment fees

Rates as low as index + 1%^*

* The index is equal to the prime rate, with a contractual minimum of 3.25%


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