Welcome students and parents!
Commerce Bank and your school have teamed up to help you finance your education. For over 40 years, Commerce Bank has been helping families pay for college and we hope you will allow us to do the same for you.
What you need to know about Student Stafford Loans
Commerce Bank will help you save money both right now and later when you enter into repayment on your Stafford Loans.
- Zero Default Fee: With a student loan from Commerce Bank, you pay no Default Fee! This is a 1% fee that is usually deducted from your loan funds. So you get to keep more money when you take out your student loan through Commerce Bank.*
- 0.25% interest rate reduction when you select auto debit of your monthly student loan payments.**
- 1.0% Origination Fee for the 2008-2009 school year. Commerce Bank charges a federally-mandated 1% Origination Fee that is taken out of your Stafford loan balance at disbursement.
- Commerce Bank originates and disburses its own loans. This means that you and the Financial Aid Office work directly with Commerce for your loan funds, not a third party.
- Flexible repayment terms and no penalties for prepayment.
- Click Apply Now button above for Commerce Bank’s easy, on-line E-sign process that requires NO PIN.
What you need to know about Parent PLUS Loan and Graduate PLUS Loans
Commerce Bank will help parent and graduate borrowers save money both up front and when you enter into repayment on your PLUS Loan.
- Zero Default Fee: With a student loan from Commerce Bank, you pay no Default Fee! This is a 1% fee that is usually deducted from your loan funds. So you get to keep more money when you take out your student loan through Commerce Bank.*
- 0.25% interest rate reduction when you select auto debit of your monthly student loan payments.**
- 3% Origination Fee: Commerce Bank charges a federally-mandated 3.0% origination fee that is taken out of your PLUS loan balance at disbursement.
- Commerce Bank will automatically defer Graduate PLUS Loans until the student is out of school.
- Parent PLUS and Graduate PLUS borrowers: Click the Apply Now button above to access Commerce Bank’s easy, online E-Signature process for signing your Master Promissory Note. No PIN is required!
- Deferment and forbearance options are available so that PLUS borrowers don’t have to make payments until after your child has graduated from college. No penalties for prepayment and take up to 10 years to repay.
- Graduate PLUS borrowers must first have applied for the maximum loan amounts under the Stafford Loan program. Borrowers must also complete the FAFSA each year that they plan to apply for the Graduate PLUS Loan and they must undergo a credit check.
Questions?
Whether you're just getting started or you're already part way through the process, Commerce can help. Just call, click, or come by and we'll help you through the process to find the solution that is right for you.
†To send an email that contains confidential information, please visit the Secure Message center where there are additional instructions about whether to use Secure Email or Online Banking messaging.
*Zero Default Fee applies to all FFELP Loans where Commerce Bank’s guarantor partner agrees to pay the 1% Default Fee on behalf of borrowers. This zero Default Fee program can be changed or discontinued without notice. Any termination or modification of the program will not affect the terms of loans previously made.
** Sallie Mae, Commerce Bank’s servicer for these loans, reserves the right to modify or terminate these repayment benefits at any time without notice. Benefits may be cancelled due to termination of auto-debit or delinquent accounts.
