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Alum Success

Justin Andre

"Lake Superior State University's Sport and Recreation Management program is second to none!", says Justin Andre, Director of Hanson Hills Recreation Area, in scenic Grayling, Michigan.

Financial Aid Office

ALTERNATIVE LOAN FEATURES

PRIME: 4.50 (effective October 1, 2008)*
LIBOR: 3.375 (effective October 27, 2008)*
* PRIME AND LIBOR rates subject to change due to market fluctuation. Ask your lender for the current rate when you apply.
NOTE: Key Bank loans must be fully processed by October 31, 2008 to be disbursed.
NOTE: Sallie Mae has recently increased their credit standard. Apply with a creditworthy cosigner who has a strong credit score.

Lender	Wells Fargo	Key Bank	Sallie Mae	Chase Bank	Discover
Name of Loan	Collegiate	Alternative	Signature	Select	Private Loan
Fees	0	0	0	0	0
Minimum Loan Amt	$1,000	$500	$500	$500	$1,000
Interest (%) Rate Range	PRIME + 0.0 to PRIME + 5.99	LIBOR + 2.99 to LIBOR +7.99	LIBOR + 4.5 to LIBOR +12.75	PRIME + 1.5 to PRIME + 8.5	PRIME - 0.5 to PRIME + 4.75
Interest Rate Adjusted	Monthly	Quarterly	Monthly	Quarterly	Quarterly
Interested Capitalized*	at start of repayment & at end of any deferment or forbearance period	at start of repayment & at end of any deferment or forbearance period	at start of repayment & at end of any deferment or forbearance period *	at start of repayment & at end of any deferment or forbearance period *	at start of repayment & at end of any deferment or forbearance period
Defer Pymts While In-School	Yes	Yes	Yes	Yes	Yes
Grace Period	6 months	6 months	6 months	6 months	6 months
Repayment Begins	when cease attending or graduate	when enroll less than 6 credits	when enroll less than 6 credits	when enroll less than 6 credits	when enroll less than 6 credits
Pay Past-due Balance	Yes	No	No	Yes	Yes
Borrow if Less than 1/2 time enrollment	Yes	No	Yes	Yes - but repay that loan immed	Yes - but repay that loan immed
Standard Repayment Period	15 yrs	20 yrs	15 yrs	20 yrs	15 yrs
Additional Rpmt Plans (must qualify)	Interest Only	Interest Only/Graduated	Select Step	None	Graduated
Deferment/Forbearance Options (must qualify)	Yes	Yes	Yes	Yes	Yes
Minimum Monthly Pymt	$50	$50	$50	$25	$50
Cosigner Required**	Freshmen = Yes Previous Borrower = No	Freshmen = No Previous Borrower = No	Freshmen = Yes Previous Borrower = No	Freshmen = NO Previous Borrower = No	All Borrowers = Yes
Release of Cosigner	after 24 consecutive on-time pymts	after 48 consecutive on-time pymts	after 24 consecutive on-time pymts	after 36 consecutive on-time pymts	none - cosigner is required
Rewards	.25% int rate reduction for auto-debit .5% int rate reduction for graduation	none	.5% int rate reduction for auto-debit	.25% int rate reduction for auto-debit .25% int rate reduction for immediate repayment of int .5% int rate reduction for qual. co-signer	.25% int rate reduction for auto-debit 2% of balance due for graduation
Borrower	Student	Student	Student	Student	Student

* Interest is capitalized every 6 months during in-school deferment if the borrower has already gone into repayment and then returns to school and defers payment.

** Students are encouraged to obtain a cosigner even if one is not required, because it increases the likelihood of loan approval AND generally results in a more favorable interest rate.

THIS INFORMATION IS SUBJECT TO CHANGE AS LENDERS CHANGE THEIR PROGRAM PARAMETERS.

EFFECTIVE OCTOBER 2008

Fire Science with Honors...

SavannahSue Rondeau
Fire Science

"I love the fast pace environment, the people in the profession, and the adrenaline rush of running into a burning building or saving someone’s life," she says.

Rondeau chose Lake Superior State University because it offers the first accredited four-year fire science degree in the United States. She also jumped at the challenge of LSSU's Honors program, which requires her to complete 21 Honors credits, including 10 credits for an Honors seminar/thesis project.

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Financial Aid Office

ALTERNATIVE LOAN FEATURES

Lender

Wells Fargo

Key Bank

Sallie Mae

Chase Bank

Discover