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Student Loans

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Private Student Loans

See what your future holds with the 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 2.62% APR to 9.69% 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

You may apply to release your cosigner from the loan after you graduate, make 12 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 be attending or have attended a participating school located in the U.S. during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower 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.
  • NO PURCHASE OR ACCOUNT NECESSARY TO ENTER OR WIN. A PURCHASE OR ACCOUNT WILL NOT INCREASE YOUR CHANCES OF WINNING. Sweepstakes is open to legal residents of United States who are 18 years old or older on or before November 14, 2016. You may also enter by mailing your name, address, phone number and email address to Commerce Bank Website Survey Sweepstakes, 8000 Forsyth Blvd CBIR-1, St. Louis, MO 63105 Entries must be received by December 15, 2016. Approximate retail value of the prize is one of ten (10) $50.00, three (3) $100.00 or (1) $250.00 Commerce Bank Visa Gift Cards. For a copy of the Official Rules, please visit CommerceBank.com/WebSurveyRules.
  1. Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest starting at disbursement, while in school and during your six-month separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. Variable rates may increase over the life of the loan. Advertised APRs assume a $10,000 loan to a freshman with no other Sallie Mae loans.
  2. Commerce Bank reserves the right to approve a lower loan amount than the school certified amount. 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 repayment example is based on a typical loan to a freshman borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements and a 7.55% APR. It works out to 51 payments of $25.00, 119 payments of $144.47 and one payment of $115.69, for a Total Loan Cost of $18,582.62. Variable rates may increase over the life of the loan. This repayment example is based on a typical loan to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements and a 6.52% APR. It works out to 27 payments of $25.00, 59 payments of $210.61 and one payment of $196.73, for a Total Loan Cost of $13,297.72. Variable rates may increase over the life of the loan.
  5. Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. 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 over the life of the loan. 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 9/26/2016.
  • 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.

Additional Information