|Variable APR||4.68% - 8.34%|
|Loan Amount||Starting at $2,000|
Everence Private Student Loans Review
Everence Private Student Loans is a private student loan offering by Everence, a credit union based in Berne, IN. Founded in 1945, Everence offers student loans in 50 states (and Washington, DC).
What rates does Everence Private Student Loans offer for in-school private student loan?
Everence Private Student Loans has a variable APR that ranges from 4.68% up to 8.34%.
Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.
How much can you borrow from Everence Private Student Loans?
Available loan amounts may vary by applicant but Everence Private Student Loans has a minimum loan amount of $2,000
Does Everence Private Student Loans charge an origination fee?
No, Everence Private Student Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees..
Does Everence Private Student Loans charge prepayment fees?
Yes, Everence Private Student Loans charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.
What terms does Everence Private Student Loans offer?
Everence Private Student Loans provides repayment terms ranging from 5 to 20 years.
What type of borrowers will Everence Private Student Loans consider?
Everence Private Student Loans considers loans applications from:
- undergraduate students
- graduate students
What do you need to qualify for a loan with Everence Private Student Loans?
Applicants with a credit score of at least 650 can apply for a loan via Everence Private Student Loans.
Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
Borrower or cosigner must have a minimum income of $15,000 to qualify. Everence Private Student Loans will also consider borrowers who are unemployed as long as they have an annual income of $15,000 or higher. Only U.S. citizens can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Grace Period for Late Payment||6|
|No Origination Fee|
|Credit Score Range||
650 - 850
|Immigration Status Considered||
|Minimum Annual Income||$15,000|
|Employment Statuses Considered||
|Verification Documents Required||
|Funding Time Range (in days)||1 - 7|
|Good Student Rewards|
|Variable APR||4.68% - 8.34%|
|Loan Amount||Starting at $2K|
|Loan Term||5 - 20 years|
|Up to Cost of Attendance|