Hampshire College

Citibank of Sioux Falls, South Dakota, offers a PLUS loan with an optional interest rate reduction of one quarter percent (0.25%) when payments are made automatically from a bank account.

SPECIFIC INFORMATION ABOUT THE CITIBANK PLUS LOAN:

• Loan holder: Citibank of Sioux Falls, South Dakota
• Loan servicer: Citibank of Sioux Falls, South Dakota
• Guarantor: NSLP of Lincoln, Nebraska
• Loan code: 826878
• Origination fee: 3% of amount borrowed
• Default fee: 0.50% of amount borrowed (guarantor pays 1/2 of fee)
• Ability to electronically sign online application using either your Federal PIN number OR a PIN number you create when you are ready to sign
• Credit check is valid for 180 days, so you can apply and be pre-approved for a PLUS loan six months prior to the start of classes; be sure to complete your promissory note within 180 days of the credit check (for those who have not already completed a Master Promissory Note) or you will need to re-apply
• Automatic borrower benefits: None
• Optional borrower benefits: One quarter percent (0.25%) interest rate reduction when payments are automatically made from a bank account
• Interest rate: 8.50%
• Lowest possible interest rate: 8.25% with optional borrower benefit

Click here for general information about the federal PLUS loan.

HOW TO APPLY:
Repeat borrowers, with a signed Master Promissory Note (MPN) on file, should call 800.394.7035 for a PLUS pre-approval credit check. Indicate that you want to apply for a RENEWAL PLUS loan. Be sure to provide the amount you wish to borrow. Once you have been pre-approved we will be notified of your loan request. You do NOT need to complete another MPN.

New borrowers may apply over the phone at 800.394.7035. After being pre-approved you will be mailed a paper application and promissory note to complete and return. You can also apply for the loan and sign the MPN online.