The Signature Student Loan for Community Colleges is a private, credit-based education loan for students attending two-year colleges. With the Signature Student Loan for Community Colleges, a student can cover the entire cost of his or her education at a two-year college, minus other aid.

Eligibility

*You must attend a community college at least half time and be working toward your degree.
*You must meet credit criteria.
*Borrowers must be U.S. citizens or permanent residents.
*International students are eligible with a creditworthy cosigner.

Benefits

*The Signature Student Loan has a high approval rate.
*If you have less-than-ideal credit or no credit at all, you can still be eligible for the Signature Student Loan by applying with a creditworthy cosigner.
*You can manage your account online 24/7.

Features

*Easy, secure online applications with immediate credit decision and electronic signature.
*No income requirement so you can focus on your studies.
*Cosigners help students get a lower interest rate and save a lot of money.
*Six-month grace period (like Stafford loans).
*No payments are required while you are in school at least half-time.
*The Signature Student Loan has interest rates and fees that reward good credit.
*Creditworthy borrowers may request a cosigner release after making the first 24 consecutive on-time payments of principal and interest as initially scheduled.
*There is no prepayment penalty.

Loan terms

*Minimum amount: $500
*Maximum amount: $15,000
*Aggregate amount: $50,000

Interest rate

Interest rates are variable and based on the Prime rate.

Fees

There is no disbursement fee; repayment fees are 0%–3% depending on credit history.
Repayment

*Standard repayment term of 15 years, with the option to extend terms (up to 30 years) for higher aggregate loan balances.
*Prepay your loan at any time without penalty.