SUPPLEMENTAL LOANS

Supplemental loans are designed to help students who need additional assistance with educational costs. In most cases, it is advantageous for students to pursue Unsubsidized Federal Stafford Loans and for parents to pursue Federal PLUS Loans before seeking alternative loans. A major advantage of these two programs is that the federal government caps the interest on the loans.

If a student still needs assistance beyond what is available through these loan programs, there are a number of private lenders who offer supplemental loans to cover educational expenses. The supplemental loans listed below are not based on need, and they can replace a portion of the Expected Family Contribution. Loan approval is generally based on creditworthiness and ability to repay. Each lender offers different rates, fees, repayment terms, and approval requirements. Wake Forest suggests students carefully investigate the loan terms and conditions before choosing a lender. If you currently have a Federal Stafford Loan or if a parent has a Federal PLUS Loan, it is often advantageous to explore supplemental loan options with your present lender.

The lenders listed below offer zero fees and/or borrower discounts during repayment, excellent service, and electronic application processing and fund delivery. None of these lenders sell their education loans.

Click here to see a comparison of these lenders.

Sallie Mae Signature Loan............(800) 695-3317
Wells Fargo Collegiate Loan.........(800) 378-5526
Chase Select Loan.........................(866) 306-0868
Wachovia Education Loan.............(800) 338-2243
CFI Extra Loan.................................(888) 234-6400
CitiAssist Loan................................(800) 967-2400

You are not required to borrow from one of the loan programs listed above.

We encourage you to compare lender discounts and other borrower benefits with these loan comparison tools:

Simple Tuition (Highly recommended!)

Loan Discount Analyzer from FinAid.org.

Special Note: Different from the regular CitiAssist Loan, the Need-Based CitiAssist Loan may be awarded by the Wake Forest University Office of Student Financial Aid to help fund the documented need of some students. The in-school interest is paid by Wake Forest. Citibank, the lender of the Need-Based CitiAssist Loan, will bill Wake Forest for the interest due, while the student is enrolled as an undergraduate degree candidate at Wake Forest.

Students who have been recommended for Need-Based CitiAssist Loans must go on-line to complete the loan application: http://www.studentloan.com/schools/wfu/specialprogram/