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Alternative Loans
What is the CampusDoor Alternative Loan from First Security Bank?
The CampusDoor Alternative Loan from First Security Bank is a private educational loan designed to supplement student and parent education loan programs offered by federal and state governments.
Whether you are an undergraduate or graduate student, an Alternate Loan can cover up to 100% of your cost of education. An Incidental Loan option is also available to help cover additional education expenses.
• This loan can be used to cover the Expected Family Contribution (EFC).
• To be eligible for this alternative student loan you must be 18 years of age (19 in Nebraska, 21 in Puerto Rico and Mississippi)* at the time of application.
• Loan applicants must be a U.S. citizen or eligible non-citizen holding a Proof of Residency (I-151 or I-551) card.
• You must be enrolled at an eligible institution to be approved for and receive a loan. Enrollment is verified after you submit an application, as part of the loan approval process.
Here are the details:
| Loan Minimum | $500 |
| Loan Maximum | The Total Cost of Education for your school, up to $250,000** |
| Interest Rate | Interest rates as low as Prime minus 0.5% to Prime plus 5%*** |
| Loan Fees | Loan fees range from 0% - 9%*** depending on your credit |
| Grace Period | 12 months after graduation |
| Incidental Loan Option | $500 to $3,000**** |
CampusDoor encourages all loan applicants to apply with a creditworthy cosigner to increase their chances of approval and of obtaining a lower interest rate and/or loan fee.
All loans are subject to credit approval. Trade/Servicemarks are the property of CampusDoor, Inc. and/or its affiliates. Lender is Lehman Brothers Bank, FSB. © 2007 Campus Door, Inc. All Rights Reserved. Equal Opportunity Lender.
*Mississippi residents under the age of 21 may borrow with written consent from a parent or guardian.
**Maximum loan amount denotes a lifetime aggregate maximum.
***In all cases, interest rates and loan fees vary and are based upon borrower and/or cosigner (where applicable) credit profile, and other underwriting criteria. See our Rates and Fees page for Annual Percentage Rate (APR) examples.
****The incidental loan can be a maximum of 30% of the requested loan amount, up to $3,000, with a minimum of $500. Please not that if the financial aid office reduces the loan amount at certification, the amount of the incidental loan may be reduced or possibly eliminated.
