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PLUS LOAN PREFFERED LENDERS - 2008-2009 Below is a list of preferred PLUS lenders. You are free to borrow from any lender you choose. Barnard has chosen these three preferred lenders based on the reduced rates and attainable borrower benefits they offer as well as for the exceptional customer service they provide. If you do not have a preference for any particular lender, we suggest you borrow from one of these three. We believe any one of them will serve you well. PLEASE NOTE: Some lenders, including but not limited to College Board and Student Loan Xpress, are no longer offering PLUS loans. If you have borrowed with one of these lenders you will need to choose a new lender and sign a new promissory note. You can choose any lender you would like, including any from our preferred list below. Lender ACCESS GROUP 800-282-1550 CHASE 800-487-4404 CITIBANK 800-967-2400 Lender Code 808851 803000 826878 Interest Rate 8.5% fixed Default Prevention Fee 0% Origination Fee 3% Loan Maximum Cost of attendance less any aid (including other loans) received Loan Terms Repayment begins 60 days after loan fully disbursed. Deferment and forbearance available. Other Benefits .25% interest rate reduction for auto-debit. Loan consolidation available No No No Repayment and consolidation For more information on repayment and consolidation, click here % of school's PLUS loans made by this lender in 07-08. 49% used other lenders. 2% 5% 44% If you have borrowed from a lender in the past, Barnard will assume you wish to continue borrowing from that lender and will process all loans with that lender unless you notify us otherwise. In order to switch to a different lender, contact that lender directly to complete a new application and promissory note. In addition, please notify Financial Aid immediately of your new lender of choice. **Please note, we have only recommended lenders who originate and service their own loans and who have no intention of selling these loans to other lenders. We believe that servicing and owning their student loans shows a commitment on the part of the lender to its customers. We also believe that this arrangement helps borrowers remain clear about who their lender is, how much they still owe, and who to contact in case of changes in information. We only recommend lenders who originate, service, and retain their student loans because we believe that our borrowers will be less likely to default if they have developed a relationship with their lender and are clear on how to contact them. Deferment: Recent legislation has made in-school deferment an option for PLUS borrowers. Parents who wish to defer payment on the PLUS until after graduation or who wish to make interest only payments should indicate this wish on their PLUS application. An In-School Deferment means that payments on a loan are not required while a student is attending an accredited institution on at least a half-time basis. During this period, PLUS loans will accrue interest. Forbearance: When a borrower is not eligible for a deferment but is unable to afford the payments on her loan, she can apply for temporary financial relief through forbearance. Forbearance is for temporary economic relief and must be requested in writing or by phone to your lender. When a loan is in forbearance, the borrower is not required to make payments on that loan but the interest accrues and is capitalized (added to the principal of the loan) during the period of non-payment.   (Back to top)