Data-Driven Resources for Our Private Student Loan Community

For Lenders & Affiliates

  • There is a steady year-over-year demand for student loans as families seek ways to invest in their student’s future income potential. Despite this steady demand and rising tuition costs, there are far fewer participants in the student loan marketplace, yet there is growth in this asset class.

    Private student loans are one of the main options students and families explore once they have exhausted their other federal and school-based financial aid, scholarship and grant options. By offering a student loan product, or engaging in a student loan referral program, you can retain existing customers and attract new ones while earning predictable income without incremental risk. The reality is that your existing customers or members likely already have a student loan, likely from another financial institution. By engaging with these customers or members early, you can increase your presence in their financial journey.

    Additionally, private student loans come with higher net interest margins than other consumer loans, like auto loans or mortgages. It is also an excellent credit quality segment since approximately 90% of private student loans are cosigned.

  • Monogram offers an attractive referral program that allows you to provide existing and prospective customers with information about student loans available to them without needing to create the program yourself. In return, you can earn a generous referral fee for each booked loan.

  • Offering a private-labeled private student loan in partnership with Monogram provides you with high serialization rates, low prepayment risk, and an attractive asset duration. We have a robust, data-driven, custom credit scorecard that helps manage risk and effectively price loans.

    If you pursue a loan referral program, there is no exposure to credit risk and no requirement to hold loans on your balance sheet. Additionally, you’ll generate fee-based income.

  • Because we’ve powered private student loans longer than anyone in the industry. Our tenure and depth of experience has enabled us to gain significant knowledge of how private student loans work. We apply these insights to help you create a program that makes the most sense for your business objectives and your borrowers.

    We work with you to either leverage your balance sheet with a forward-purchase commitment or offer a pure referral product that generates fee income. We offer a fully outsourced solution that includes product design, underwriting, loan origination, customer service, and portfolio management, all fully compliant with regulatory requirements.

    As an added benefit to partnering with Monogram, you’ll receive a rich data set to evaluate program performance and cross-sell opportunities to continue to retain existing customers.

    • For private-labeled offerings: We work with you to customize a private student loan program that will be most attractive to your customer base. We assist with marketing the asset class and help you secure the loans. Contact us to get started.

    • For referral programs: Contact us to learn more.

For Student Borrowers & Cosigners

If you are a student or family looking for more information on private student loans, please visit Abe Student Loans, Union Federal and Custom Choice.

For Financial Aid Offices

Check out our additional resources to empower students to get access to the financial assistance needed to help them reach their education goals.

  • We work with both major platforms - Fast Choice and Elm - and can work with your own private lender list. Contact us at 866-296-3637 or priorityservice@monogramllc.com for more details.

  • A private student loan may be an option to support a student’s efforts to further their education, though it should be used to help fill the gap after federal aid and other options have been explored.

    Students should also be encouraged to explore different scholarship options, as well, including our scholarship program: SmartBorrowing

  • Eligibility requirements vary by product, but generally include the following:

    • Be enrolled at an eligible institution in a degree-granting program

    • Be the legal age of majority, or at least 17 years of age at the time of application if applying with a cosigner who meets the age of majority requirements in the cosigner’s state of residence

    • Be a U.S. citizen, a permanent resident alien, an Eligible Non-Citizen (DACA recipient) applying with an eligible cosigner who is a U.S. citizen or permanent resident alien, or an international student applying with an eligible cosigner who is a U.S. citizen or permanent resident alien

  • Our team has more than 30 years of experience creating financial solutions that make college dreams a reality. Leveraging a data-driven approach, we work to create innovative and personalized products that offer competitive pricing, borrower discounts, and flexible deferment and forbearance options.

    Monogram is your partner, and we work with you to provide the best solutions to meet the unique needs of your students and their families. Every loan should be the beginning of a new success story. After all, everyone wins when students reach their goals.

  • Students are not required to meet the SAP requirements established by their school in order to be eligible to apply for a Monogram student loan.

    Monogram offers programs that meet student financial needs for those enrolled less than half time, certificate programs, or not meeting SAP. If you have questions about any students not making SAP enrolled in a certificate program or less than half-time, contact us at 866-296-3637 or priorityservice@monogramllc.com.

  • Up to one hundred percent of students’ school-certified cost of attendance is covered, which typically includes things like tuition and fees, books and supplies, room and board, transportation and personal expenses.

  • Yes. A cosigner may be released from the loan upon request to the Servicer, provided that the student borrower has met certain credit and other criteria, and the Servicer has received 36 consecutive monthly principal and interest payments within 10 calendar days after their due date. Late payment(s), or the use of a deferment or forbearance will reset the number of consecutive principal and interest payments to zero. Use of an approved alternative repayment plan will disqualify the loan from being eligible for this benefit.

  • Yes. We offer a paying for college scholarship and have awarded more than $70,000 to student applicants to date. Learn more about our SmartBorrowing scholarship.

  • Yes. Contact us at 866-296-3637 or priorityservice@monogramllc.com and we’ll put you in touch with your geographical representative.

  • Your school is eligible if you are based in the United States, and are Title IV eligible and certified according to data from the U.S. Department of Education. Additionally, you must be categorized as a public or private school that offers a bachelor’s degree program or higher according to the U.S. Department of Education. Please note you are not eligible if you are a for-profit school (proprietary schools).

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