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Custom Choice Student Loan Review
Custom Choice Loan
Rewards: Auto-Debit Discount and Graduation Reward
Yearly Loan Limits: $99,999
Overall Loan Limits: $1,000 (minimum), $180,000 maximum aggregate student loan debt
Cosigner Terms: Cosigner is optional, allows for cosigner release after 36 consecutive on-time monthly principal and interest payments
Rewards: Auto-Debit Discount and Graduation Reward
Yearly Loan Limits: $99,999
Overall Loan Limits: $1,000 (minimum), $180,000 maximum aggregate student loan debt
Cosigner Terms: Cosigner is optional, allows for cosigner release after 36 consecutive on-time monthly principal and interest payments
The bottom line
The Custom Choice Loan offers students no fees and a 2% graduation principal reduction, keeping overall costs low. While there are only 3 available repayment terms, choosing between 7, 10, and 15 year repayment periods is satisfactory for most borrowers.
Pros- No fees
- Graduation principal reduction
- Offers cosigner release
Cons- No discharge in event of cosigner death or disability
- 36 months of payments required before cosigner release
- Call center not open on weekends
Loan comparison
Full review
The Custom Choice Loan is a low-cost student loan option that offers both no fees and generous rewards like an auto-debit discount and 2% reduction in principal with proof of graduation. Applying with a cosigner is optional, and if you do, you'll be able to apply for cosigner release after 36 months of consecutive on-time principal and interest payments. The minimum loan size is just $1,000 ($1,001 for student applicants who are residents of Iowa) and you can borrow up to your full cost of attendance, less aid up to $99,999 annually and as long as your aggregate student debt does not exceed $180,000.
Only 7, 10, and 15 year repayment periods are available, which will be satisfactory for most students, and you'll be able to check your rate in minutes without impacting your credit.
Custom Choice Loan - Custom Choice Loan
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