No prepayment

interest rates

No origination

For Degree-Granting Institutions For Degree-Granting Institutions


Get the money your student needs

Their Future Education LoanTM from Commerce Bank offers parents or any creditworthy individual (including spouses, family members, and guardians) another option for financing their student’s education expenses. This loan, in your name, lets you enjoy a choice of repayment options, and the interest paid may be tax deductible.1

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

Apply now 


Features and benefits

  • Select a competitive variable or fixed interest rate. Variable interest rates range from 5.49% APR to 11.87% APR2 and fixed interest rates range from 5.74% APR to 12.87% APR.2
  • Lower your interest rate by making monthly payments by automatic debit.3
  • Choose how you want to pay back the loan. 2, 4
    • Interest repayment option: Make monthly interest payments while your student is enrolled in school for up to 48 months, followed by 10 years of monthly principal and interest payments.4
    • Principal and interest repayment option: Make monthly principal and interest payments for 10 years, including while your student is enrolled in school.
  • Pay no origination fee or prepayment penalty.
  • Borrow up to 100% of the school-certified cost of attendance. 5
  • Use for both undergraduate and graduate college expenses.
  • Check your credit health with quarterly FICO® Scores, available online for free for both borrowers and cosigners.6

The proceeds of the loan will be disbursed directly to the school on behalf of the student. Refunds will be handled within your school’s current process, and in some cases, your school may refund loan funds directly to the student. If that occurs, the borrower and cosigner (if applicable) would still be responsible for repaying the loan to the servicer, Sallie Mae.


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Borrow responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student 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

Students can help pay for college with a flexible student loan

The Your Future Education LoanTM from Commerce Bank is a student loan that’s a flexible way to bridge the gap between federal loans and the cost of education expenses, with a choice of three repayment options. Learn more

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?

Call us at (855) 342-2006(855) 342-2006 or email us at

Loan Application & Solicitation Disclosures

Their Future Education LoanTMApplication and Solicitation Disclosure


This information is for borrowers with students attending degree-granting institutions only. The student is not eligible to be a borrower or cosigner and must be attending or have attended a participating school during an eligible prior enrollment period, or be enrolled in an eligible study abroad program. The borrower, cosigner and student must be U.S. citizens or permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount to Sallie Mae. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 This information is not meant to provide tax advice. Consult with a tax advisor for education tax credit and deduction eligibility. For more information, see IRS Publication 970.

2 APRs for the Principal and Interest Repayment Option are higher than APRs for the Interest Repayment Option. Variable rates may increase over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower (on behalf of a freshman student) with no other Sallie Mae loans.

3 Borrower or cosigner 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 or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a forbearance.

4 This repayment example is based on a typical loan to a borrower (on behalf of a student) who chooses a variable rate and the Interest Repayment Option for a $10,000 loan, with two disbursements, and a 8.74% variable APR. It works out to 4 payments of $36.46, 44 payments of $72.92, 119 payments of $125.77 and one payment of $94.59, for a Total Loan Cost of $18,415.54. Variable rates may increase over the life of the loan.

5 Commerce Bank reserves the right to approve a lower loan amount than the school-certified amount.

6 Borrowers and cosigners who have an available FICO® Score, may receive their score quarterly after the first disbursement of their loan. The FICO® Score provided to you is the FICO® Score 8 based on TransUnion data, and is the same score that Sallie Mae uses, along with other information, to manage your account. FICO® Scores and associated educational content are provided solely for your own non-commercial personal review, use and benefit. This benefit may change or end in the future. FICO®is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

Information advertised valid as of .