DIGIPEN INSTITUTE OF TECHNOLOGY

We recommend these lenders based on the quality of products and services they provide to students and families. We have carefully considered our selections in order to provide you with the best possible list of suggested lenders. However, if you wish to use another lender that is not on this list, you have the right to do so. You can find alternative lenders by clicking the “Search For Other Lenders” link below or searching on your own.
 
The following is a list of established lenders who we have placed on our Preferred Lender list because their services are exemplary and are designed to benefit you. The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce your loan balance or lower your interest rates. You may want to visit their web sites for more information.
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Benefits

  • The rate reduction applies for the life of the loan. One you earn the reduction, it's yours!
  • 0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers
  • For your convenience, Bank of America verifies that you have a checking or savings account. You do not need to provide documentation

Services

  • Free bill pay with a Bank of America checking or savings account
  • To set up a checking or savings account please visit https://www.bankofamerica.com/index.jsp
  • Free Online Banking
  • Mobile Banking for students on the go
 

Benefits

  • Receive an interest rate reduction of 0.25% if you choose to have your monthly payments automatically deducted from your checking or savings account
  • Receive a one-time 3.75% principal reduction after 36 consecutive on-time monthly payments
  • Zero origination and default fee

Services

  • Graduation Rewards: First payment made for the student upon completion of degree or certificate
 

Benefits

  • .25% Autopay Reduction - Sign up for automatic payment and receive a .25% interest rate reduction.
  • Up to 1% Default Fee may be paid on behalf of the borrower by participating guarantors.

Services

  • E-Signature option
  • Defer payments while the student is in school 
  • Repayment options - graduated, income-sensitive, extended and level payment plans available
  • Five Star Service Guarantee
 

Benefits

  • Quick online application
  • 6.0 % fixed interest rate for subsidized undergraduate, 6.8% for all unsubsidized and graduate Stafford loans
  • Multiple repayment options
  • 0.25% interest rate reduction with auto-debit payments

Services

  • Free Student Checking
 
The following is a list of established lenders who we have placed on our Preferred Lender list because their services are exemplary and are designed to benefit you. The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce your loan balance or lower your interest rates. You may want to visit their web sites for more information.
Compare Lenders Lender Information Borrower Benefits & Customer Service Apply Now

Benefits

  • For your convenience, Bank of America verifies that you have a checking or savings account. You do not need to provide documentation
  • 0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers
  • The rate reduction applies for the life of the loan. One you earn the reduction, it's yours!

Services

  • Mobile Banking for students on the go
  • To set up a checking or savings account please visit https://www.bankofamerica.com/index.jsp
  • Free Online Banking
  • Free bill pay with a Bank of America checking or savings account
 

Benefits

  • Receive a one-time 3.75% principal reduction after 36 consecutive on-time monthly payments
  • Borrow up to the full cost of education (tuition, room and board), less any other student financial aid received
  • Receive a quick credit decision when you apply online
  • Electronic Signature Process is available
  • Not a needs-based loan
 

Benefits

  • .25% Autopay Reduction - Sign up for automatic payment and receive a .25% interest rate reduction.
  • Up to 1% Default Fee may be paid on behalf of the borrower by participating guarantors.

Services

  • Instant credit pre-approval
  • E-Signature option 
  • Endorser option 
  • Postpone payments while the student is in school
  • Repayment options - graduated, income-sensitive, extended and level payment plans available
  • Five Star Service Guarantee
 

Benefits

  • No collateral requirements or income limitations
  • Make no payments while student is in school
  • Quick online application
  • Receive up to the total cost of education, minus other aid
  • 8.5% fixed interest rate
  • Credit counselors available to assist with any credit issues
  • Multiple repayment options
  • 0.25% interest rate reduction with auto-debit payments

Services

  • Auto and home loans, investment accounts and more
 
The following is a list of established lenders who we have placed on our Preferred Lender list because their services are exemplary and are designed to benefit you. The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce your loan balance or lower your interest rates. You may want to visit their web sites for more information.
Compare Lenders Lender Information Borrower Benefits & Customer Service Apply Now

Benefits

  • U.S. Bank will only consolidate loan balances of $40,000 and higher. There are no repayment benefits being offered at this time, however borrowers may choose a graduated, income sensitive or extended (up to 30 years depending on the balance) repayment schedule

Services

  • Apply on-line
 

Benefits

  • Fees starting as low as 0%
  • .25% Interest Rate Reduction for auto debit
  • Easy online applications and E-sign available
  • Co-signer release feature
  • In-School deferment option

Services

  • Combined billing through ACS
  • Can be used for past due balances
  • Satisfactory Academic progress not required
 

Benefits

  • $15,000 or more, 0.25% interest rate reduction for auto debit
  • 1% interest rate reduction after just 24 on time payments, regardless of auto debit
 
The following is a list of established lenders who we have placed on our Preferred Lender list because their services are exemplary and are designed to benefit you. The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce your loan balance or lower your interest rates. You may want to visit their web sites for more information.
Compare Lenders Lender Information Borrower Benefits & Customer Service Apply Now

Benefits

  • No loan limits; borrow up to the total cost of education less other financial aid you receive
  • 0.50% interest rate reduction at 1st disbursement
  • 0.75% interest rate reduction at 36 months
  • 1.00% interest rate reduction at 48 months
  • Borrowers can earn an additional 0.25% interest rate reduction when payments are made by auto debit
 

Benefits

  • 0.25% Interest Rate Reduction for Bank of America Checking or Savings Account Customers
  • The rate reduction applies for the life of the loan. One you earn the reduction, it's yours!
  • For your convenience, Bank of America verifies that you have a checking or savings account. You do not need to provide documentation

Services

  • Free bill pay with a Bank of America checking or savings account
  • Mobile Banking for students on the go
  • To set up a checking or savings account please visit https://www.bankofamerica.com/index.jsp
  • Free Online Banking
 

Benefits

  • 7.9% fixed rate for the life of your loan
  • Endorser feature available for borrowers needing assistance meeting credit approval
  • 3% of your loan amount subtracted from accrued interest
 

Benefits

  • .25% Autopay Reduction - Sign up for automatic payment and receive a .25% interest rate reduction.
  • Up to 1% Default Fee may be paid on behalf of the borrower by participating guarantors.

Services

  • Instant credit pre-approval
  • E-Signature option 
  • Endorser option 
  • Postpone payments while the student is in school
  • Repayment options - graduated, income-sensitive, extended and level payment plans available
  • Five Star Service Guarantee
 
The following is a list of established lenders who we have placed on our Preferred Lender list because their services are exemplary and are designed to benefit you. The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce your loan balance or lower your interest rates. You may want to visit their web sites for more information.
Compare Lenders Lender Information Borrower Benefits & Customer Service Apply Now

Benefits

  • Gap Loan
  • Interest based on T-Bills - varies quarterly
  • .50% interest rate reduction for auto debit
  • Co-signer release option
  • Six month grace period
  • Less than 1/2 time OK

Services

  • Flexible repayment options
  • In School deferment
  • Apply on-line
 
 

Benefits

  • Make no payments for up to six months after graduation
  • No application fee and no additional fees
  • Easy annual renewal process
  • Receive a quick credit decision when you apply online
 

Benefits

  • No Fee Loan:
  • No Fees
  • .50% interest rate reduction for auto debit
  • Co-signer release option
  • Six month grace period
  • Less than 1/2 time OK

Services

  • Flexible repayment options
  • In School deferment
  • Apply on-line
 
Additional Resources
 

ELMSelect is hosted and maintained by ELM Resources to provide student and parent borrowers with information supporting their ability to choose the educational lender of their choice.

Information on this site regarding educational loans has been provided exclusively through institutions of higher education (“schools”) that have elected to post their preferred lender lists on this site. ELM Resources is not involved in any way with the endorsement of lenders or specific loan products of educational institutions and does not receive compensation as a result of a lender being placed on a preferred lender list or a school using ELMSelect as a means of providing loan information to students.

ELM Resources is not responsible for the accuracy of the information available through ELMSelect. Students and parents are encouraged to contact lenders to confirm the accuracy of the loan terms posted on the site. Students and parents are also reminded of the right of borrowers seeking loans through the Federal Family Education Loan Program to choose their lender and that the choice of a lender is not in any way limited to the lenders on a school’s preferred lender list. Additionally, if a borrower chooses another lender, they will suffer no penalty for selecting their lender of choice.

ELM Resources notes that additional information on student loans is available from the U.S. Department of Education on a variety of sites including www.studentaid.ed.gov and www.mymoney.gov. Useful information on financial literacy may be found at http://www.mymoney.gov/, a website maintained by the U.S. Financial Literacy and Education Commission. For New York schools, additional information can be found at http://www.oag.state.ny.us/family/student_lending/information.html.

ELM Resources welcomes comments on ELMSelect. Comments may be sent to: info@elmresources.com.