Private Student Loan Borrower Benefits
You may be eligible for interest rate reductions for direct debit and other benefits for on-time payment of your private student loan. You can also prepay on the loan penalty-free at any time. Please see below for important details about borrower benefits.
- Exclusive Graduation Reward - $300 principal reduction on every private student loan upon graduation1
- Lower your interest rate by 0.25% when you choose to have your payments automatically deducted from your personal bank account2
- May apply for cosigner release after making 48 initial, consecutive principal and interest payments on-time
Apply Online for a Private Student Loan
1 Proof of graduation is required.
2 The 0.25% rate reduction is available to borrowers who arrange with their servicer to automatically deduct monthly payments from their personal bank account. Savings programs are effective for all loans disbursed on or after October 13, 2006.
