When scholarships, grants and federal loans are not enough to pay for college, a private student loan can help you fill the gap. With a AAA Private Student Loan, you can cover up to 100% of your Cost of Attendance and make no payments until 12 months after you graduate.
Benefits & Advantages:
Online decisions in less than a minute
Deferment available for up to 12 months after graduation
Co-signer release can be requested after 36 on-time payments1
Easy, secure online application with electronic signature
Borrower Savings Program offers up to 1% interest rate reduction1:
0.5% interest rate reduction for auto debit payments
0.5% interest rate reduction after 48 consecutive on-time payments
$500 minimum up to $250,000 lifetime aggregate maximum loan limit
Up to a 25-year repayment term, depending upon loan balance2
Eligibility:
Enrolled at least half-time at an approved school
Age 18 years or older (19 in Alabama and Nebraska, 21 in Puerto Rico and Mississippi)3
U.S. citizen or eligible non-citizen with proof of residency card
Acceptable credit history or an approved cosigner
Private Loan Tip: We encourage all students to apply with a creditworthy cosigner to increase their chances of approval and of obtaining a lower interest rate and/or loan fee
The AAA Borrower Savings Program:
With the AAA Borrower Savings Program, you may be eligible for cosigner release and interest rate reductions for auto debit payments, as well as for on-time payments of your AAA Private Student Loan. You can also prepay on the loan penalty-free at any time. See our online loan application for details about the AAA Borrower Savings Program1.
Interest and Other Costs:
Interest rates range from Prime minus 0.5% to Prime plus 6.9% for loans with a creditworthy cosigner and from Prime minus 0.5% to Prime plus 7.9% for loans without a creditworthy cosigner4.
Origination fees vary from as low as 0% to 9%4 based on credit history and other underwriting criteria. Any fees are automatically added to the loan amount for no out-of-pocket expenses.
For borrower questions or to apply please contact our Customer Service Center at 1-888-581-1766
You may qualify for federal student loans. We encourage prospective customers to exhaust federal student loan options before applying for a CampusDoor loan or other private student loan, as federal loans are often less expensive and offer the widest variety of repayment options.
All loans are subject to credit approval. Lender is Lehman Brothers Bank, FSB. Equal Opportunity Lender. The AAA Student Lending Program is compensated for the referral of private loan customers to the Lender.
1. At all times the discount rates and cosigner release terms are subject to change. The on-time benefit must be earned. Cosigner release is contingent upon the borrower’s credit profile which will be reviewed by the Lender prior to release. Loan delinquency, default, or the use of forbearance may result in the revocation of all borrower benefits. Borrowers will receive a 0.5% interest rate reduction for borrowers who elect to have monthly principal and interest payments transferred electronically from a savings or checking account. The interest rate reduction will begin when automatic principal and interest payments start, and will remain in effect as long as automatic payments continue without interruption. This reduced interest rate will return to contract rate if automatic payments are cancelled, rejected or returned for any reason. Borrowers will receive an additional 0.5% rate reduction after 48 consecutive on-time payments.
2. The repayment period may be less than the 25-year maximum allowed depending on the borrower’s indebtedness at the beginning of his or her repayment period and the requirement that the borrower either satisfies a $50 minimum monthly payment amount (level schedule) or the terms of a graduated repayment schedule.
3. Mississippi residents under the age of 21 may borrow with written consent from a parent or guardian.
4. In all cases, interest rates and loan fees vary and are based upon borrower and/or cosigner (where applicable) credit profile, and other underwriting criteria. See our Rates and Fees page for Annual Percentage Rate (APR) examples and other important information about our private student loans.
Our Territory: AAA Southern New England proudly serves members in Rhode Island & the following counties in Massachusetts:
Bristol, Middlesex, Worcester, Berkshire, Plymouth, and Norfolk
Copyright 2008. AAA Southern New England
