Student Loans

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Private Student Loans

See what your future holds with Your Future Education Loan® from Commerce Bank.

The Your Future Education Loan® from Commerce Bank offers a flexible way to bridge the gap between federal loans and the cost of your education expenses.

Rates, Fees, Benefits

  • Variable interest rates for undergraduate students range from 2.50% APR to 9.59% APR and fixed interest rates range from 5.74% APR to 11.85% APR.1
  • Competitive interest rates are also available for graduate students.1
  • No origination fee.
  • The loan covers up to 100% of the cost of attendance.2*
  • Lower your interest rate by making scheduled monthly payments by automatic debit.3
  • Choose from three repayment options.1 While you’re in school and for six months after school, you can pay just $25 each month4 or pay interest each month. You can also defer your payments until after school.
  • By making the scheduled monthly payments on time you will establish a payment history, putting you on a path towards building a credit history. The loan is a way to help you build your credit.
  • Cosigner release option is available.5

A Cosigner Can Help Make College Happen

Cosigning a loan with a parent or any other creditworthy person can make the investment in college more manageable, allowing you to focus on what’s important while you’re in school – successfully completing your education.

Benefits of Getting a Cosigner:

  • May help improve your chances for approval
  • Allows your cosigner to share in the cost

Plus, after graduation a borrower may apply for their cosigner to be released from the loan once they have made 12 consecutive, on-time principal and interest payments and meet certain credit requirements.5

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*Encourage Responsible Borrowing

We encourage students and families to supplement their savings by exploring grants, scholarships, and federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

Disclosures:

  • This information is for borrowers attending degree-granting institutions only. You must attend a participating school or have attended one in an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower who is attending or has attended a school located in the U.S. applying with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
  1. Interest rates for the Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. Graduate student pricing on the Your Future Education Loan is limited to students enrolling in a Masters/Doctorate level degree program. Graduate Certificate/Continuing Education course work is not eligible for graduate student pricing. Variable rates may increase after consummation. Interest is charged while you are in school and during the 6-month separation period. Unpaid Interest will be added to the Current Principal when you enter principal and interest repayment.
  2. Commerce Bank reserves the right to approve a lower loan amount than the school certified amount. Some requested amounts may require multiple loans. We encourage students and families to supplement their savings by exploring grants, scholarships, and federal and state student loans, and to consider the anticipated monthly payments on their student loan debt and their expected future earnings before considering a private education loan.
  3. Either the borrower or cosigner (not both) must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due is successfully deducted from the designated bank account each month and is suspended during forbearances and certain deferments.
  4. This informational repayment example uses typical loan terms available to a freshman borrower who elects the Fixed Repayment Option and has a $10,000 loan with two disbursements and a 7.44% variable APR: 51 payments of $25 per month, 119 payments of $143.06 per month, and one payment of $115.21, for a Total Loan Cost of $18,414.35. This informational repayment example uses typical loan terms available to a first-year graduate borrower who elects the Fixed Repayment Option and has a $10,000 loan with two disbursements and a 6.40% variable APR: 27 payments of $25 per month, 59 payments of $209.46 per month, and one payment of $195.96, for a Total Loan Cost of $13,229.10.
  5. Only the borrower may apply for cosigner release. Borrower must provide proof of graduation (or successful completion of certification program), income, and citizenship (if it has changed since you applied). Borrower must also be a U.S. citizen or permanent resident; meet the age of majority in their state; be current on all Sallie Mae serviced loans and make 12 consecutive on-time principal and interest payments on each loan requested for release immediately before applying; not have been reported to a consumer reporting agency as 90+ days delinquent in the past 24 months; not be in hardship forbearance or a modified repayment program; have no student loan(s) in default; and pass a credit review that demonstrates a satisfactory credit history and the ability to assume full responsibility of the loan(s) individually when the release request is processed. Requirements are subject to change.
  • Explore federal loans and compare to ensure you understand the terms and features. Your Future Education Loans that have variable rates can go up after consummation. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income.
  • COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
  • Information advertised valid as of 1/25/2016.
  • Your Future Education Loans are funded by Commerce Bank.
  • Your Future Education Loan is a service mark or registered service mark of Sallie Mae Bank or its subsidiaries. Other logos are trademarks or service marks of their respective owners.

Additional Information