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Competitive
Interest Rates

3 Repayment
Options

No Origination
Fees

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 2.25% APR to 9.37% 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 2.25% APR to 7.27% 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 fees.
  • Borrow up to 100% of your school-certified cost of attendance3.
  • Ability to lower your interest rate by making scheduled monthly payments by automatic debit4.
  • 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 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.
  • May help you secure a better interest rate.
  • 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 full 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, 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


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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 attend a participating school or have attended one in an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower who is attending or has attended a school located in the U.S. 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. 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 for loans with 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. Any interest that remains unpaid when you enter full repayment will be added to your loan balance.

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 7.21% variable APR: 51 payments of $25 per month, 119 payments of $140.28 per month, and one payment of $114.17, for a total paid of $18,082.49, or to: a graduate borrower who elects the Fixed Repayment Option and has a $10,000 loan with two disbursements and a 6.16% variable APR: 27 payments of $25 per month, 59 payments of $207.17 per month, and one payment of $194.41, for a total amount paid of $13,092.44.

3 As certified by your school and confirmed by Commerce Bank, less other financial aid received. Commerce Bank reserves the right to approve a lower loan amount than what the school has certified. Requested amounts exceeding $99,999 may require multiple loans. 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 borrower's monthly payment amount is successfully deducted from the designated bank account and is suspended during forbearances and certain deferments.

5 The release of a cosigner is at the sole discretion of Sallie Mae. Only the borrower may apply for cosigner release. The borrower must provide proof of graduation or successful completion of certification program, not be delinquent and have made 12 consecutive on-time payments of principal and interest immediately before applying, provide proof of income, pass a credit review that demonstrates a satisfactory credit history and the ability to assume full responsibility of the loan(s) individually, have no student loan(s) in default, must not be reported as 90+ days delinquent in the past 24 months, must not be in hardship forbearance and/or in a modified repayment program, be a U.S. citizen or permanent resident, and meet the age of majority in their state. Requirements are as of October 13, 2014, and are subject to change.

Information advertised valid as of 6/25/2015.