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Alternative Loans

Financial Aid

The Financial Aid Office at Missouri Southern State University recommends that students first utilized federal student loans before considering private educational loans. Federal loans have lower fixed interest rates and have deferment and forbearance options.

To assist you in determining the best loan choice for you, Missouri Southern State University maintains a list of possible lenders families may wish to include when comparing private loan options; However, borrowers are not limited to this lender list and may select a lender which is not included on the list.

Any student with specific questions regarding federal or private student loan options are encouraged to contact the Financial Aid Office at 417-625-9325.

Please see our lender list below:

This page is not an endorsement of any company, it is for informational purposes only. 

Company Contact Information Interest Rate

Sallie Mae
300 Continental Dr
Newark, DE. 19713

Tel: 1-800-472-5543
https://www.salliemae.com/student-loans/smart-option-student-loan/

*Interest Rates
3.25%-10.22% Variable
5.74%-11.85% Fixed

Discover
P.O. Box 30947
Salt Lake City, UT. 84130
Tel: 1-800-788-3368
https://www.discover.com/student-loans/
*Interest Rates
3.865%-10.115% Variable
6.24%-12.49% Fixed
Wells Fargo
P.O. Box 5185
Sioux Falls, SD. 57117
Tel: 1-800-658-3567
https://www.wellsfargo.com/student
*Interest Rates
3.87%-9.88% Variable
5.94%-11.26% Fixed
Citizens Bank
1 Citizens Plaza
Providence, RI. 02903
Tel: 1-888-411-0266
https://www.citizensbank.com/student-lending/student-loans.aspx

*Interest Rates
3.14%-11.12% Variable
5.74%-11.75% Fixed

College Avenue
1105 N. Market St.
Wilmington, DE. 19801
Tel: 1-844-422-7501
https://www.collegeavestudentloans.com
*Interest Rates
3.15%-11.14% Variable
5.65%-13.64% Fixed
Lendkey
104 W. 27th St. Fl 4
New York, NY. 10001
Tel: 1-888-549-9050
https://www.lendkey.com
*Interest Rates
2.67%-6.31% Variable
3.25%-7.26% Fixed

*current rate quoted from Internet

Maximum APR varies by lender – Origination fees vary with lenders - Student and cosigner if applicable are responsible for repayment - Credit approval necessary – Borrowing limits vary by lender and cost of attendance (COA) – Limited deferment and forbearance options vary by lender – Not federally insured against death and disability

Ask Smart Questions

  •  How much may I borrow?
  • What are the fees associated with the loan?
  • What are the interest rates and how often will they change (e.g., quarterly)?
  • Do I need a co-signer?
  • Can I receive a lower interest rate when I apply with a co-signer?
  • Can I defer payments while in school?
  • What are the terms of repayment?
  • Are there any penalties for paying the loan off early?
  • Can I receive combined billing with my Stafford loans?

As always, take care to borrow only what you need to cover your education costs, not what you are eligible to receive.

Required Text under Sec. 128(e) of the Truth In Lending Act

Historical Lender List for Private Education Loans

Private educational student loans are offered to students as a potential outlet to cover their educational expenses at Missouri Southern State University. It is important to note that you may qualify for HEA program loans or other financial assistance under Title IV of the Higher Education Act, which may be more favorable than the provisions of private education loans. In accordance with 34 CFR 668.14(b)(29)(ii), an institution must, upon the request of the applicant, discuss the availability of Federal, State, and Institutional financial aid. The staff members in Missouri Southern State University's Financial Aid Office are happy to discuss both federal and private aid options with continuing students, prospective students, and their parents.

The Higher Education Act of 2008 (Pub. L. 110-35) (HEOA) added section 128(e)(3) to the Truth In Lending Act to require that before a private educational lender may disburse funds to a  student in attendance at an institution of higher education, the private education lender must obtain the completed and signed Self-Certification form from the applicant. The Federal Reserve Board's Final Regulations, published on August 14, 2009, incorporate this new requirement at 12 CFR 226.48(e). Many private lenders will provide the Self-Certification to the borrower.

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