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Parent Loans
Claremont McKenna College has a wide range of educational loans available to all students and their families to assist with educational expenses. This webpage is designed to provide you with information on each of the loan programs to help you make the right decision in financing your education.
The Financial Aid Office is available to assist you with any questions you may have regarding these loan programs and your lending options. Our office hours are Monday - Friday from 8am – 5pm, and we can be reached at (909) 621-8356.
Federal Parent Loan For Undergraduate Students (PLUS)
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For Information On Processing Your Federal Loans
The lenders listed below participate in the Federal Family Education Loan Program (FFELP) and have historically provided excellent service, expedient delivery of funds, and reliability to our students and parents. Claremont McKenna College does not receive anything of value from any lender in exchange for being listed below. Claremont McKenna College does not permit any inappropriate relationships between College employees and any lending institution. Although we have developed this lender list to assist our students and parents, please note that, consistent with federal regulations, you are welcome to choose any participating lender. If you wish to select a lender that is not on this list, please contact that lender to discuss their process.
This list is frequently evaluated and updated, and may be subject to change.
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Parent PLUS Loan
Step 1: Please review this link for guidance:
A Parent's Guide to the Federal PLUS Loan Program (PDF)
Federal PLUS Loan Request Form (PDF)
* NOTE: This must be completed by the parent who signs the Master Promissory Note.
Step 2: Consistent with our desire to expedite funds to our borrowers and to provide quality service in the process, we have elected to use an electronic process. This process allows most borrowers to complete the Federal Master Promissory Note (MPN) and electronic signature process on-line. This enhances our office's ability to process and disburse loans in an expeditious manner. Claremont McKenna has established this process for the sole purpose of providing efficient and quality service to students and parents. Claremont McKenna College receives no incentives of any kind in using a lender's electronic process.
Step 3: The lenders listed below have historically provided competitive borrower benefits, excellent service and reliability to our students and parents, as well as expedient delivery of funds.
Select a Lender:
To access information on the lenders listed below, please visit their website. The address has been provided for you.
ALL STUDENT LOAN Lender Code 833752 888 271 9721
www.allstudentloan.org
Borrower benefits for PLUS include:
| Up to 0.25% immediate interest rate reduction for ACH |
| 0% Default Fee through select guarantors |
| 3% Origination Fee |
CITIBANK Lender Code 826878 800 967 2400
www.citibank.com
http://studentloan.citibank.com/slcsite/setschool.asp?schoolcode=001170&campuscode=00&url=http://studentloan.citibank.com/mbslcsite%3Fop=offer
Borrower benefits for PLUS include:
| Up to 0.75% borrower savings on interest rate while in repayment |
| 1.00% Default Fee |
| 3.00% Origination Fee |
SALLIE MAE EDUCATION TRUST Lender Code 802218 888 2-SALLIE
www.salliemae.com
https://opennet.salliemae.com/apploansummary/?school_id=00117000&InstLndrID=802218&loanprogram=PLUS
Borrower benefits for PLUS Loans include:
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0.70% rate reduction on eligible loans with auto debit from checking or savings acct
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| 1% Default Fee |
| 3% Origination Fee |
US BANK Lender Code 827269 800 242-1200
www.usbank.com/sl/claremontmckenna
Borrower benefits for PLUS Loans include:
| 1% credit of original principal after first 12 consecutive monthly on-time payments |
| 0% Default Fee when not paid by the guarantor |
| 3% Origination Fee |
ADDITIONAL INFORMATION
Shop Student Loans online at:
http://slbg.greentreegazette.com/gtree/
CMC Financial Aid
890 Columbia Avenue
Claremont, CA 91711-6425
(909) 621-8356
finaid@claremontmckenna.edu
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