Key Bank Alternative Loan

http://www.key.com/educate/alternative
1-800-KEY-LEND

Interest Rate Calculation:
In school: 3-month LIBOR plus 2.75%
In repayment: 3-month LIBOR plus 2.90 % (variable rate loan)

Cosigner Requirements:
Creditworthy graduate students can borrow on their own if they meet minimum income requirements

Loan Fees:
With cosigner: 4% added at final disbursement
Without cosigner: 9% added at final disbursement

Minimum Loan:
$500

Maximum Loan:
Cost minus aid

Eligibility:
Must be creditworthy
Must be half-time
Can be non-degree

Repayment Terms:
6-month grace period after graduation or leaving school 10,15 or 20 years to repay depending on loan balance
Forbearance for hardshipe

Special Features:
Easy renewal: Master Loan note with first application means no signatures required for renewal
Capitalization once at repayment
Cosigner release option
Can be used for previous balances if application received within 30 days of term end