Preferred Lenders List for PLUS Loans
Please note the student may choose any eligible lender and the University will process the student's request. The University Preferred Lenders list is reviewed quarterly, to include lenders that offer additional borrower benefits, have exceptional operating standards, possess technology wherewithal, and are committed to providing outstanding service and expedited processing by meeting or exceeding established performance standards. For additional information on method and criteria for selecting a preferred lender, please click here.
Lender: Bank of America
(888) 875-0024
Lender Code: 831495		 Citibank
(800) 967-2400
Lender Code: 826878		 Fifth Third Bank
(888) 777-9959
Lender Code: 808780		 Sallie Mae® Education Trust
(888) 777-9959
Lender Code: 802218		 Wachovia
(800) 338-2243
Lender Code: 830005		 Wells Fargo
(800) 658-3567
Lender Code: 807176
Guarantor: EdFund Educational Credit Management Corporation USA Funds USA Funds Texas Guaranteed Student Loan Corporation EdFund
Servicer: ACS Citibank Sallie Mae® Sallie Mae® ACS Wells Fargo
Federal Default Fee 0% 0% 1% 1% 0% 0%
Origination Fee 3% 3% 3% 3% 3% 3%
Benefits for PLUS Loans at Repayment (Parent PLUS)
Immediate Upon Repayment
  • 0.25% interest rate reduction for Bank of America checking or savings account customers

Bank of America checking
or savings account must
be open for at least 60
days between student's
loan disbursement and
first scheduled payment. The interest rate will be reduced shortly after the first scheduled on-time payment is received. Once earned, the benefit applies for the life of the loan. 		         
ACH  
  • 0.25% interest rate reduction for payments automatically deducted from a bank account
  • 0.25% interest rate reduction for ACH automatic payment
  • 0.25% interest rate reduction for ACH automatic payment
  • 0.25% interest rate reduction for auto-debit payments
  
Electronic Statements Required No Yes No No No  
Benefits for PLUS Loans at Repayment for Graduate Students (Grad PLUS)
Immediate Upon Repayment
  • 0.25% interest rate reduction for Bank of America checking or savings account customers

Bank of America checking
or savings account must
be open for at least 60
days between student's
loan disbursement and
first scheduled payment. The interest rate will be reduced shortly after the first scheduled on-time payment is received. Once earned, the benefit applies for the life of the loan.		          
ACH  
  • 0.25% interest rate reduction for payments automatically deducted from a bank account
  • 0.25% interest rate reduction for ACH automatic payment
  • 0.25% interest rate reduction for ACH automatic payment
  • 0.25% interest rate reduction for auto-debit payments
  
Electronic Statements Required No Yes No No No  
On-time Payment Requirement Payment on-time if made within 15 days from payment date to achieve
and maintain benefits		        
The lender reserves the right to modify, extend, or discontinue these benefits at any time without notice. Borrower benefits may be terminated in the event of a default or failure to meet qualification criteria.