Hampshire College

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

SPECIFIC INFORMATION ABOUT THE KEY BANK PLUS LOAN:

• Loan holder: Key Bank of Cleveland, Ohio
• Loan servicer: Great Lakes Higher Ed Corp. of Madison, Wisconsin
• Guarantor: Great Lakes Higher Ed Corp. of Madison, Wisconsin
• Lender code: 813760
• Origination fee: 3% of amount borrowed
• Default fee: 1% of amount borrowed
• Ability to electronically sign online application
• Automatic borrower benefits: None
• Optional borrower benefits: One quarter percent (0.25%) interest rate reduction when payments are automatically made from a bank account; monthly payment will be reduced; available for the 10- and 25-year repayment plans
• 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.