Hampshire College

Citizens Bank of Massachusetts offers a PLUS loan with an optional quarter of one percent (0.25%) interest rate reduction when monthly payments are automatically made from a bank account.

SPECIFIC INFORMATION ABOUT THE CITIZENS BANK PLUS LOAN:

• Loan holder: Citizens Bank of Norwood, Massachusetts
• Loan servicer: Great Lakes Higher Ed Corp. of Madison, Wisconsin
• Guarantor: Great Lakes Higher Ed Corp. of Madison, Wisconsin
• Lender code: 833881
• Origination fee: 3% of amount borrowed
• Default fee: 1% of amount borrowed
• Ability to electronically sign online application using the Federal PIN number
• Automatic borrower benefits: None
• Optional borrower benefits: Quarter of one percent (0.25%) interest rate reduction with automatic payment 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 apply online for a pre-approval. Be sure to include the amount of the loan you want to borrow. Once you are pre-approved, we will be notified of your loan request. You do NOT need to complete another MPN.

New borrowers may apply and sign the MPN online.You will first apply for a pre-approval online. After being pre-approved, you will be instructed to complete the application and then electronically sign the MPN using your federal PIN number.