Charter One Undergraduate Loan
Charter One Undergraduate Loan Borrower Benefits
For traditional, undergraduate students
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0.25% interest rate reduction for automatic payment deduction from any bank account.1
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Cosigner release option after 48 consecutive, on-time payments.2
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Competitive rates and fees.3
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Three repayment options available: Immediate, Interest-Only, and Deferred Principal & Interest.
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Repayment term of up to 25 years, depending on loan amount.
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Borrow up to the cost of attendance.
How to Apply
Already applied? Check application status.
If you have any questions during the application process, please contact us at 1-800-721-3969. Again, thank you for choosing Charter One!
Eligibility
You are eligible for the Charter One Undergraduate Loan if you are:
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An undergraduate student, 18 years of age or older, enrolled in a degree or certificate program.
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Enrolled at least half-time (as determined by your school).
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Attending a TERI-approved school (call 1-800-721-3969 to confirm eligibility of school).
You or your co-signer must also meet the following credit guidelines:
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Have a satisfactory credit, residence and employment history of at least 2 years;
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Have proof of current income (If self-employed, have been in business for at least 2 years); and
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Are a U.S. citizen or permanent resident and have resided in the U.S. for the previous 2 years.
International Students
International students must apply with a qualified co-signer. Please contact us at 1-800-721-3969 for details on acceptable student visas and other required documentation.
Features and Benefits
Interest Rate and Fees
Borrowing Limits
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Borrow annually up to the cost of your attendance minus other aid (as certified by your school).
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$1,000 minimum loan amount.
Disbursement
Repayment Terms
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Take up to 20 years to repay (up to 25 years for loans of $40,000 or more).
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No prepayment penalties.
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Minimum monthly payment as low as $25.
Repayment Options
Immediate Repayment - Pay principal and interest in a fixed monthly amount beginning approximately 45 days after funds are disbursed.
Interest-Only Repayment - Defer principal and pay only interest while you are enrolled in school for up to 4 consecutive years (up to 5 years if enrolled in a 5-year program). Interest payments begin approximately 45 days after disbursement. Repayment of principal and interest begins approximately 45 days after graduation or when you cease to be enrolled at least half-time.
Deferred Principal & Interest Repayment - Make no payment while you are in school for up to 4 consecutive years (up to 5 years if you are enrolled in a 5-year program). Repayment of principal and interest begins approximately 180 days after graduation or when you cease to be enrolled at least half-time. Interest that accrues during the in-school deferment period is capitalized at the time your loan enters repayment.
Qualification
Approval for the loan programs listed above is based on a student's good credit standing. If the student does not have any credit or, has low credit, a cosigner may be required. The cosigner must also have good credit and the proven ability to repay the loan.
When filling out the online TERI Loan application, you'll need the following information:
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Name
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Address
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Phone Number
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Date of Birth
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Social Security Number
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Annual Income (if applicable)
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Employer Name/Phone Number
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Monthly rent or mortgage payment
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Name of school you plan to attend
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Loan amount requested
Value Added Services
Our Student Financial Handbook is a valuable resource for students. It is designed to help with budgeting for expenses and includes money-saving tips and potential tax benefits. It provides comprehensive guidelines for college students on their personal finances and advises them on using their credit options wisely. Simply call 1-800-721-3969 to receive your FREE copy today.
About Charter One
As a leading provider of education financing, Charter One prides ourselves on making education possible for students. We offer education financing products for undergraduate, graduate, professional, continuing education and international students.
For More Information
Contact us today at 1-800-721-3969 for details.
Other Rates and terms available. Please call 1-800-721-3969 for details.
Please click here to return to the Tri-State University Financial Aid page.
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