No prepayment
penalty

Competitive
interest rates

No origination
fee

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 4.75% APR to 11.12% 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.


 

Apply now 

 

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 money101@commercebank.com


Loan Application & Solicitation Disclosures

Their Future Education LoanTM 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 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.

1 For more information, see IRS Publication 970 or consult a tax advisor.

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 8.99% variable APR. It works out to 4 payments of $37.50, 44 payments of $75.00, 119 payments of $127.14 and one payment of $94.31, for a Total Loan Cost of $18,673.97. 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 may receive their FICO® Score quarterly after the first disbursement of their loan. FICO® Scores are delivered only to borrowers and cosigners who have an available score, are based on data from TransUnion, and may be different from other credit scores. 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 .