Private Student Loan Options
After exhausting the opportunities available from the federal aid programs, many students will consider private loans as a source of funding. (Remember there are Federal Direct Loans that may be more beneficial.) Manchester University is committed to offering students and their families the best assistance possible to meet their college expenses. As a service, the University has completed the research necessary to identify reputable lenders that provide the best interest rates, service and convenience to our students. The following is the Manchester University preferred lender List for the Private Student Loan program. Borrowers have the right to select the education loan provider of their choice. There is no penalty for choosing a lender that is not on the preferred lender list. Manchester University has no affiliation with, and receives no incentive or benefit from any lender, whether or not they are designated as a preferred lender. Manchester University will certify a loan with ANY lender chosen by the borrower.
Self Certification Form
Please note that you will be required to complete the Department of Education’s self-certification form before you can complete your private loan application. Once completed, it is required that you forward to your lender of choice. This form is also available through the lender’s website.
Conflict of Interest Policy and Code of Conduct
Preferred Lender List:
 Discover® Student Loans
- Apply now
- Disclosure Statement
- Benefits
- Disciplines: Undergraduate, Graduate and Health Professions (PharmD students)
- Interest Rate: Fixed Interest Rates as low as 6.79% APR.
- Variable Interest Rates as low as 3.25% APR1.
- Loan Fees: Zero origination fees
- Minimum Loan Amount: $1,000
- Halftime Enrollment Required? Yes
- Satisfactory Academic Progress Required? Yes
- Degree Seeking Requirements? Yes
- Cosigner Options: Yes. Applying with a cosigner may reduce your interest rate
- Deferment of Loan Payments: Automatic in-school deferment while enrolled at least half-time. Payments can also be deferred while on active military duty (up to 3 years) or in public service with certain organizations (up to 3 years)
- Repayment Benefits: 0.25% Auto Debit Reward; 2% Graduation Reward (on variable interest rate loans only)
 ISM Marketplace
- Apply now
- Disclosure Statement
- Benefits
- Instantly and accurately compares rates and terms from 11 private loan lenders side-by-side with one credit check
- Detailed listings of APRs, interest rates, total cost, monthly payments, borrower benefits, fees and repayment options displayed
- Each lender available to you in the ISM Marketplace meets the following criteria:
- Commits to presenting upfront, accurate pricing information
- Only offers school-certified loans
- Provides an online application process for students seeking a loan
- Remains in good regulatory standing
- Products from both national and local lenders compared
 Sallie Mae Smart Option Student Loan 888-272-5543
- Apply now
- Disclosure Statement
- Benefits
- Disciplines: Undergraduate and Graduate
- o Competitive interest rates— Variable rates from 2.25% APR to 9.37% APR1, or Fixed rates from 5.74% APR to 11.85% APR1
- No origination fees1
- Pay now or later—defer your payments until after graduation or choose an in-school repayment option that fits your needs
- Borrow up to 100% of your school certified education costs (minimum $1,000)
- Get a 2% Smart Reward® in your Upromise® account when you make scheduledmonthly payments on time while in school (Not available with the Deferred Repayment Option)2
- Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit3
- Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
- You can apply for a cosigner release after you graduate and make 12 consecutive on-time principal and interest payments4
- 1,2,3,4 Visit SallieMae.com/terms/sosl for additional information. Terms, conditions and limitations apply.
 Custom Choice Loan by SunTrust Bank 866-232-3889
- Apply now
- Disclosure Statement
- Benefits:
- Disciplines: Undergraduate and Graduate
- Fixed or Variable Interest Rate – You Choose
- Multiple repayment options - Customize your loan
- No repayment penalties
- Online application with E-Signature available
- 1% reduction to your principal balance upon graduation
- 0.25% rate reduction for automatic payments
- Applying with a creditworthy cosigner might help you qualify for a lower rate
- Zero fees
 Union Federal Private Student Loan by Union Federal Savings Bank 866-513-8445
- Apply now
- Disclosure Statement
- Benefits
- Disciplines: Undergraduate and Graduate
- Competitive rates starting as low as 1 month LIBOR + 2.60%
- Zero fees
- Choice of multiple repayment options and terms
- No repayment penalties
- Online application with E-Signature available
- 0.25% rate reduction for making on-time payments
- 0.25% rate reduction for automatic payments
- Cosigner release after 36 on-time payments
- Applying with a creditworthy cosigner might help you qualify for a lower rate
 Wells Fargo 800-378-5526
- Apply now
- Disclosure Statement
- Benefits
- Disciplines: Undergraduate, Graduate and Health Professions (PharmD students)
- Wells Fargo Collegiate Loan
- Fixed or Variable Interest Rates
- Applying with a cosigner may reduce your interest rate.
- No application, origination, or repayment fees
- No payments are due until six months after you leave school.
- In addition, if you're ever having trouble making payments, Wells Fargo offers ways to lower or postpone your payments.
- Wells Fargo Student Graduation BenefitSM: Once Wells Fargo verifies that you’ve graduated, you can lower your interest rate by 0.50%.
- 0.25% interest rate reduction when you set up an automatic payment from a personal checking or savings account
- Cosigner release available after the first 24 consecutive monthly payments are received on time; borrower must meet minimum credit requirements.
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