raise^ Private Student Loans
funded by Cognition Lending
TYPES OF INTEREST RATES
APR 5.837% – 15.075%
5, 7 or 10 years of principal and interest payments
College is in reach. So is affording it. We're committed to giving you the tools you need to achieve your goals. Funded by Cognition Lending.
Citizenship: U.S. Citizens and Permanent Resident Aliens are eligible.
College Enrollment: Available to students enrolled at least half-time at an eligible institution
Residency Requirements: The raise^ private student loan program is available only to students with a permanent residence in Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Indiana, Maryland, Massachusetts, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, South Carolina, Tennessee, Texas, Washington or West Virginia and cosigners in any state except Wisconsin.
Multiple Product Offerings: Loans are available for undergraduates and graduates
Income: Earning income (or apply with a cosigner that does).
Rates valid as of July 1, 2018
raise^ private student loan
5, 7 or 10
5.837% – 15.075%
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raise^ private student loan
American Education Services (AES)
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¹ The variable interest rate currently ranges from 5.837% APR – 15.075% APR. The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index (published on the 25th day, or the next business day thereafter, of the month immediately preceding such calendar month, and rounded up to the nearest 1/8th of one percent) to your margin. Margins currently range from 3.95% - 12.95%. The current One-month LIBOR index is 2.125% on 7/1/2018. LIBOR stands for London Interbank Offered Rate. The One-month LIBOR is published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). The interest rate will be determined after you apply. The variable interest rate and Annual Percentage Rate (APR) depend upon (1) the student’s and cosigner's (if applicable) credit histories, (2) the repayment option and loan term selected, and (3) the requested loan amount and other information provided on the online loan application. The low APR shown assumes that student applies with a cosigner, selects the 5-year repayment term and the immediate repayment option, and receives 1 disbursement, and includes a .25% interest rate discount for making ACH payments (see footnote 3). If approved, applicants will be notified of the rate qualified for within the stated range. The variable interest rate will increase or decrease if the One-month LIBOR index changes, or if the student no longer qualifies for the ACH discount described in footnote 3, but will never exceed 16%. Rates and terms effective for applications received on or after 7/1/2018. Interest will begin to accrue as of the first disbursement date.
² Payment examples (all assume a 45-month deferment period, a six month grace period before entering repayment and a .25% interest rate discount for making ACH payments upon entering repayment (see footnote 3)): 5 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 5-year repayment term (60 months), and a 6.891% APR would result in a monthly principal and interest payment of $196.72 ; 7 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 7-year repayment term (84 months), and a 7.224% APR would result in a monthly principal and interest payment of $151.29; 10 year term: $10,000 loan disbursed over two transactions with interest only repayment, a 10-year repayment term (120 months), and a 7.506% APR would result in a monthly principal and interest payment of $118.05.
³ 0.25% interest rate reduction applies when full payments (including both principal and interest) are automatically drafted from a bank account. Interest rate reduction(s) will remain on the account unless (a) the automatic deduction of payments is stopped (including during deferment or forbearance) or (b) there are three automatic deductions returned for insufficient funds within the life of the loan.
Cognition Lending Corporation © 2018
raise^ is a trademark of Cognition Lending Corporation.
The lender on the raise^ private student loan program is Cognition Lending 200 Clarendon Street, 3rd Floor, Boston, MA 02116. NMLS number 957936. The NMLS Consumer Access page is: http://www.nmlsconsumeraccess.org/. Loans made in California are made pursuant to California Finance Lenders Law license 60DBO 57.
Before applying for a raise^ private student loan, Cognition Lending recommends comparing all aid alternatives including grants, scholarships, and both federal and private student loans.
To qualify, an applicant must be a U.S. citizen or permanent resident, enrolled at least half time in an eligible school, at least 18 years old (or the applicable state age of majority), and meet Cognition Lending’s underwriting requirements. Certain restrictions and limitations may apply. Cognition Lending reserves the right to change or discontinue these programs without notice. All loans are subject to approval. The raise^ private student loan program is available only to students with a permanent residence in Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Indiana, Maryland, Massachusetts, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, South Carolina, Tennessee, Texas, Washington, or West Virginia and cosigners in any state except Wisconsin.
Cognition Lending may sell your raise^ private student loan to a third party. All borrower benefits set forth in your credit agreement that are not subject to the discretion of Cognition Lending must be honored by any potential purchaser provided you qualify for such benefits.