Alternative Loan Preferred Lender List
Important Note: As a service, Ferris State University has completed the research necessary to identify
reputable lenders that provide the best interest rates, service and convenience to
our students. Ferris State University has no affiliation with, and receives no incentive
or benefit from any lender, whether or not they are designated as a preferred lender.
All three lenders on our preferred lender list offer fixed and variable interest rate
options. Ferris State University will certify a loan with ANY lender chosen by the borrower.
The interest rates below are ranges. Your actual rate(s) will be determined after
credit checks of student and cosigner credit-worthiness. For tips on how to lower
your student loan debt, you are encouraged to visit our Financial Literacy website.
CUSTOM CHOICE 
Custom Choice Loan
- Click here to visit website or call 1-866-230-5609
- Fixed or Variable interest rate option
- Fixed Rate: 3.75% - 12.25%
- Variable Rate: 1M LIBOR + 2.25% to 1M LIBOR +9.86% (Currently 2.251% - 9.286% APR)
- Zero Fees
- Cosigner recommended
- Cosigner may be released after 48 consecutive on-time payments
- Available to students enrolled at least half-time
- Applicant chooses from a variety of repayment or deferred payment options
- Loan forgiveness in the event of student death or permanent disability
DISCOVER 
Student Loans
- Click here to visit website or call 1-877-728-3030
- Fixed or Variable interest rate option
- Fixed Rate: 5.49% - 9.99%
- Variable Interest rate: Prime plus 0% to Prime plus 6.25% (Currently 3.25% - 9.5%
APR)
- Zero fees
- Cosigner Recommended
- Cosigner release option: No
- Available to students enrolled at least half-time
- Payments deferred while you are enrolled at least half-time
- Loan forgiveness in the event of student death or permanent disability
WELLS FARGO 
Wells Fargo Collegiate® Loan
- Click here to visit website or call 1-800-658-3567
- Choose fixed or variable interest rate
- Fixed rate option 5.94% - 13.99%
- Variable rate option from 3.40% to 9.24% (18% ceiling rate)
- Zero fees
- Cosigner recommended
- Cosigner may be released after making 24 on-time payments
- Students who are currently enrolled may apply to cover past due balances up to 12
months.
- Payments deferred while you are enrolled at least half-time
- May be enrolled less than half-time
- Loan forgiveness in the event of student death or permanent disability
