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Competitive
Interest Rates

3 Repayment
Options

No Origination
Fee

The flexible way to pay for college

The Your Future Education Loan® from Commerce Bank offers a flexible way to bridge the gap between federal loans and the cost of your education expenses.

Get a credit result in about 15 minutes, e-sign, and choose your repayment option.

Apply Now 

 


g Features and benefits

  • Variable interest rates available for undergraduate students from 2.50% APR to 9.59% APR1.
  • Fixed interest rates available for undergraduate students from 5.74% APR to 11.85% APR1.
  • Lower rates available for graduate students, including variable interest rates from 2.50% APR to 7.51% APR1, and fixed interest rates from 5.74% APR to 8.56% APR1.
  • Choice of three repayment options. Pay just $25 each month2 or pay the interest while you're in school. You can also defer your payments until after you graduate1.
  • No origination fee.
  • Borrow up to 100% of the school-certified cost of attendance3.
  • Ability to lower your interest rate by making scheduled monthly payments by automatic debit4.
  • You may apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments and meet certain credit requirements5.

g Benefits of a cosigner

Cosigning a loan with a parent or any other creditworthy person can make the investment in college more manageable, allowing you to focus on what’s important while you’re in school - successfully completing your education.

Having a cosigner:

  • May help improve your chances for approval.
  • Allows your cosigner to share in the cost. Plus, after graduation a borrower may apply for their cosigner to be released from the loan once they have made 12 consecutive, on-time principal and interest payments and meet certain credit requirements5.

g A-B-Cs of paying for college

We recognize how important it is to find the right funds at the right time for an education. That’s why we recommend a simple formula to make financing college as easy as A-B-C.

  1. Apply for Financial Aid – FAFSA, scholarship applications as well as college forms
  2. Budget what you can from savings and income to help cover the total cost of your degree
  3. Compare borrowing options

For more information on types of federal student aid, grants, and types of student loans, visit the Federal Student Aid site.

 


Encouraging Responsible Borrowing

We encourage students and families to supplement their savings by exploring grants, scholarships, and federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

 
 

College Funding Resources


Scholarships and grants

Register for free and gain access to millions of scholarships totaling up to $18 billion in free money to help you pay for college. Register now


Learning Center

Learn how to manage your money with how-to’s on saving, budgeting, borrowing – and much more! We're here to help you every step of the way. Learn more


Have questions?

Contact us by calling (855) 342-2006(855) 342-2006 or by email at money101@commercebank.com


Loan Application & Solicitation Disclosures


Your Future Education Loan for Undergraduate Students Loan Application and Solicitation Disclosure

Your Future Education Loan for Graduate Students Loan Application and Solicitation Disclosure

 
 

This information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower applying with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. Non-U.S. citizen students, including DACA students, will need to submit proper documentation to prove citizenship/identity; this can include an unexpired foreign passport, an unexpired student visa, an alien registration card, or an employment authorization document. All documentation must be unexpired at the time of the application, government-issued, and include a photograph. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Interest rates for the Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. Graduate student pricing on the Your Future Education Loan is limited to students enrolling in a Masters/Doctorate level degree program. Graduate Certificate/Continuing Education course work is not eligible for graduate student pricing. Variable rates may increase after consummation. Interest is charged while you are in school and during the 6-month separation period. Unpaid Interest will be added to the Current Principal when you enter principal and interest repayment.

2 This informational repayment example uses typical loan terms available to: a freshman borrower who elects the Fixed Repayment Option and has a $10,000 loan with two disbursements and a 7.44% variable APR: 51 payments of $25 per month, 119 payments of $143.06 per month, and one payment of $115.21, for a Total Loan Cost of $18,414.35, or to: a first-year graduate borrower who elects the Fixed Repayment Option and has a $10,000 loan with two disbursements and a 6.40% variable APR: 27 payments of $25 per month, 59 payments of $209.46 per month, and one payment of $195.96, for a Total Loan Cost of $13,229.10.

3 Commerce Bank reserves the right to approve a lower loan amount than the school certified amount. We encourage students and families to supplement their savings by exploring grants, scholarships, federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

4 Either the borrower or cosigner (not both) must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due is successfully deducted from the designated bank account each month and is suspended during forbearances and certain deferments.

5 Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change.

Information advertised valid as of .