LOANS FOR STUDENTS WHO ARE NOT U.S. CITIZENS AND/OR PERMANENT RESIDENTS

LOAN TYPE

Access

Bank of America

CitiBank

GateY

TERMS

Eligibility Requirements

Must have a valid Social Security Number

Enrolled full-time in a graduate or professional program

NO Bankruptcies in credit History

Credit test required. Credit history is not required, but a good credit history will improve chances for approval.

No Default on educational loans

Not refund do on educational grant

Enrolled in school eligible for Access Loans

Making satisfactory academic progress

Full Time, Half time or less than

Meet credit eligibility requirements

Half time students as

Earn Minimum FICO Credit Score

certified by the school

Have 3 years of established US credit history

in students name

4 non-student- loan accounts open on

credit history for at least 36 months

Minimum loan amount

$1,000.00

Loan Limits*

Annual

Cost of Education less all other financial aid

up to $220,000

Aggregate

Cost of Education less all other financial aid

up to $275,000

Grace Period

9 months

Med - 9 months

PA - 6 months

Interest Rates

How is interest Rate Calculated

3-month LIBOR, varies quarterly

Private

Based on Prime Rate

What is current Interest Rate?

In School

3-month LIBOR plus 1.7% to 3.3%

LIBOR + 2.6%

Prime - 0.50% to Prime + 4.0%

In grace

3-month LIBOR plus 1.7% to 3.3%

LIBOR + 2.6%

Prime - 0.50% to Prime + 4.0%

At repayment

3-month LIBOR plus 1.7% to 3.3%

LIBOR + 2.6%

Prime - 0.50% to Prime + 4.0%

In Repayment

3-month LIBOR plus 1.7% to 3.3%

LIBOR + 2.6%

Prime - 0.50% to Prime + 4.0%

Interest Accrues

In School

YES

Yes

In Grace

YES

Yes

Deferment**

YES

Yes

Forbearance

YES

Yes

Interest Capitalized

At Graduation

At Repayment

YES

Loan Fees

Origination Fees

Default Fees

Separation Fee/Back End Fees

In Repayment

Repayment

Begins

9 months after graduation

6 MONTHS AFTER GRADUATION

After grace period ends

Years to Repay

20 years

UP TO 20 YEARS

up to 25 years

Special Consideration

Bonus

Borrower Benefits (Payment Incentives)

YES

Yes

Interest Rate Reduction

YES

Yes

Refund Loan Fees after disbursed

Other (Explain)

Credit Check

Credit Check Required

YES

Yes

When

At Application

AT APPLICATION

When Application completed

By Lender

YES

Yes

By Guarantor/Servicer

Co-Signer Information

Co-Signer Requirement

Yes

Do you require a co-signer?

No, but student can choose to use one

Only in certain circumstances

Can you have a co-signer removed?

YES, after 24 consecutive on time

Yes

Payments

Selling Loans

Do you sell your loans?

YES

If yes, when do you sell your loans?

DURING GRACE

If you sell your loans, will the new

owner of the loan protect/keep the

same Terms and condition you

currently have on the loan?

YES

Other Information

Deferments

YES

Yes

Forbearance

YES

Yes

Minimum Payment

$50.00

Online Application

YES

Yes

E-signature

YES

Yes

Prepayment Penalty

Payment Options

YES

Yes

Electronic Funds Transfer

YES

Yes

Relocation/Residency Loan

YES

Combined Billing Available

YES

Yes

Federal Consolidation Available

YES

Private Consolidation Available

YES

Yes

Borrower Benefits

Percentage of Borrowers

20.67%

that receive your borrower

benefits. Do not include

Origination or Default Fee

Waivers)

* We estimate that 20% of CitiAssist Loan borrowers will make 48 on time payments and will earn this incentive for responsible repayment.
* We estimate that 20% of CitiAssist Loan borrowers will enroll in auto debit and will earn this incentive for responsible repayment.

100% receive a 0% Origination fee and LIBOR plus 2.6% interest in school and in grace and in repayment

Are Borrower Benefits UP Front

Both

After the student enters repayment

or After the student enters

Origination and Default fees are paid

Both

repayment?

UP Front and

interest rate reductions are

after the student goes into

repayment

How long does it take for a

on time interest reduction takes

Student to qualify for the

place once first on time scheduled

Borrower Benefits?

monthly payment is made

The rate reduction takes affect after enrolling into the E-Z Pay Program and after the 48 on-time payments

auto debit reduction takes

place when borrower

initiates the electronic

payment

How can the student earn

on time payments

borrower benefits?

auto debit program

0.25% Interest Rate Reduction – students must have their loan payments withdrawn electronically from their bank accounts through Citibank’s E-Z Pay service.
Additional 0.50% Interest Rate Reduction - students must make their first 48 consecutive required monthly payments on time.

How can a student loose a

late payment

borrower Benefit?

auto debit has insufficient funds

Delinquency or late payments

Can the student get the

yes, this is a one time option

borrower benefit back?

If lost benefit because of insufficient

funds, the benefit can not

be reinstated

If the student can get the

if they make 12 consecutive

borrower benefit back, How?

monthly payment on time

What are the borrower benefits

• No fees! Access Group pays the 2% origination fee on behalf of the borrower
• Access Group also pays the 1% federal default fee on behalf of the borrower
• 0.8% interest rate reduction at repayment for on-time payments
• 0.25% interest rate reduction for auto-debit payments
• Online application with
e-signature
• Combined billing with other Access Group loans
• Flexible repayment options
• Life of loan servicing

0% Fees Libor plus 2.6% interest in school and in grace and in repayment

0.25% Interest Rate Reduction – for students who have their loan payments withdrawn electronically from their bank accounts through Citibank’s E-Z Pay service.
Additional 0.50% Interest Rate Reduction - for students who make their first 48 consecutive required monthly payments on time.