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NC Advantage - Borrower Benefits on CFI Loans
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| CFI loans save you money compared with the same type of loans from other
lenders. See cost comparisons based on average amounts borrowed for college in
the charts below. |
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| Click the loan type for CFI benefit details. Click the verification link for a
full chart of CFI and other lenders' benefits and the comparison calculation
assumptions as reviewed by an independent accounting firm. |
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| Stafford Loans |
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| $15,000 example based on average
cumulative education debt during college at a fixed interest rate of
6.8%. Total cost is total principal and interest repaid over course
of loan. |
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Total Cost |
CFI
Saves You |
| College Foundation, Inc. |
$17,995 |
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| Bank of America |
$20,524 |
$2,529 |
| Chase |
$20,565 |
$2,570 |
| Citibank |
$20,146 |
$2,151 |
| College Loan Corp |
As of 03/01/08, no longer offers Stafford Loans |
| Sallie Mae |
$20,311 |
$2,316 |
| SunTrust |
$20,350 |
$2,355 |
| Wachovia |
$19,900 |
$1,905 |
| Federal Direct Loan |
$20,323 |
$2,328 |
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| Comparison
Verification |
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| Parent PLUS Loans |
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| $40,000 example based on average of
$9,228 borrowed per year for four years for dependent student at
a fixed interest rate of 8.5% (except DIRECT Loan at 7.9%).
Total cost is total principal and interest repaid over course of
loan. |
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Total Cost |
CFI
Saves You |
| College Foundation, Inc. |
$51,884 |
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| Bank of America |
$60,124 |
$8,240 |
| Chase |
$60,310 |
$8,426 |
| Citibank |
$58,285 |
$6,401 |
| College Loan Corp |
As of 03/01/08, no longer offers Parent PLUS Loans |
| Sallie Mae |
$58,461 |
$6,577 |
| SunTrust |
$58,890 |
$7,006 |
| Wachovia |
$58,189 |
$6,305 |
| Federal Direct Loan |
$57,336 |
$5,452 |
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| Comparison
Verification |
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| Graduate/Professional PLUS Loans |
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| $40,000 example at a fixed interest rate of
8.5% (except DIRECT Loan at 7.9%). Total cost is total principal and
interest repaid over course of loan. |
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Total Cost |
CFI
Saves You |
| College Foundation, Inc. |
$51,884 |
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| Bank of America |
$60,124 |
$8,240 |
| Chase |
$60,310 |
$8,426 |
| Citibank |
$58,285 |
$6,401 |
| College Loan Corp |
As of 03/01/08, no longer offers Graduate/Professional PLUS Loans |
| Sallie Mae |
$57,285 |
$5,401 |
| SunTrust |
$58,890 |
$7,006 |
| Wachovia |
$56,391 |
$4,507 |
| Federal Direct Loan |
$57,336 |
$5,452 |
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| Comparison
Verification |
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| Consolidation Loans |
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| $35,000 example based on average
cumulative education debt during college at a fixed interest rate of
6.625%. Total cost is total principal and interest repaid over course
of loan. |
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Total Cost |
CFI
Saves You |
| College Foundation, Inc. |
$60,259 |
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| Bank of America |
$60,710 |
$451 |
| Chase |
$63,127 |
$2,868 |
| Citibank |
$60,710 |
$451 |
| College Loan Corp |
As of 03/01/08, no longer offers Consolidation Loans |
| Sallie Mae |
As of 04/11/08, no longer offers Consolidation Loans |
| SunTrust |
$63,127 |
$2,868 |
| Wachovia |
$63,127 |
$2,868 |
| Federal Direct Loan |
$60,710 |
$451 |
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| Comparison
Verification |
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| More details
of NC
Advantage include borrower benefits on EXTRA Education and Consolidation Loans too. |
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