Parents may wish to borrow funds through the federal Parent Loan to Undergraduate Students (PLUS) Program to cover the student’s remaining educational costs.
Through Summer 2009, St. Cloud State University participates in the Federal Family Education Loan Program (FFELP). Under FFELP, the borrower selects the lender; St. Cloud State does not endorse any one lender. The lender and a guarantee agency may deduct an origination fee (3.0%) and a default aversion fee (1.0%) from the loan prior to disbursement.
While parent borrowers may choose any participating lender for the Stafford and PLUS loans, the following is a list of experienced lenders that have been selected based on their commitment to provide efficient service to all St. Cloud State students and families, outstanding customer service and state-of-the-art electronic capabilities.
If you choose to use one of the lenders listed in the table below, click on the name of your chosen lender, select the "Apply for a Loan with..." link listed with the specific lender. If you have previously borrowed through the PLUS Loan program you are encouraged to remain with the same lender. If you choose not to use one of the lenders from the list below, simply select “My Lender is Not Listed” from the table below to complete and return a Loan Request Form to our office.
Some parents may prefer to serve as a co-signer for their son or daughter and utilize a Minnesota SELF loan or private loans available through various lenders. Additional information on all loan options.
While all federal PLUS loans have the same interest rates and fees, some lenders offer payment discounts to borrowers that can reduce the cost of the loan.
These incentives, called “borrower benefits”, may vary by lender so review each of the lenders’ borrower benefits to determine your best option. You are encouraged to contact the lender to confirm any current borrower benefits.
Click on the lender name from the lender list on the left to see the Borrower Benefit details.Associated Bank
1-800-789-6765
www.associatedbank.com
BREMER BANK is no longer making or servicing PLUS Loans.
CITIBANK
www.studentloan.com
1-800-967-2400
EDAMERICA
www.edamerica.net
1-800-337-6884
U.S. BANK
www.usbank.com/studentloans
1-800-242-1200
WACHOVIA
www.wachovia.com/education
1-800-338-2243
WELLS FARGO
www.wellsfargo.com
1-800-658-3567
We will certify your loan through any lender in a timely and efficient manner; however, selecting a lender that is not on our lender list may limit our ability to process, track or revise your loan.
Summer 2009: Complete the 2009 Summer PLUS Loan Request Form (PDF/1 Page)
This lender is not affiliated with any other lender on this list.
St. Cloud State University is an affirmative action/equal opportunity educator and employer.
St. Cloud State University is a member of the Minnesota State Colleges and Universities system.
© 2012 St. Cloud State University