La Salle University



Federal Stafford Loan Lender List for 2009-2010

Student Loans are an important part of any college financing plan. You have the right to select any lender with any guarantee agency.

At La Salle University, we realize that there are many lenders and many different types of loans. To help our families make good financial choices we recommend the following lenders. How did we arrive at this list? We asked over twenty national and local lenders to submit proposals of their 2009-2010 borrower benefits. After a thorough review of these proposals, the La Salle Lender Selection Committee selected these lenders on the basis of price, borrower benefits and customer service. These lenders are only recommended: La Salle University will process any loan from any lender or guarantee agency..

If you decide to choose one of our lenders, then we will send the certification information to the lender in July.  The lender will contact you about completing the Master Promissory Note (MPN) via the Web.  Once your MPN is signed, your final step will be to complete a Stafford Loan Entrance Interview (new La Salle University borrowers only).  You will receive further information as to how to do this at a later date. 


If you wish to use a lender not on our list, indicate so on the Institutional Data Form (IDF).  You will then need to submit a signed paper Stafford Loan MPN with the name and code of your lender to the Office of Student Financial Services.

Remember, all loans are certified for the fall and spring semesters.  Loans are not processed for one term only.

For Previous Stafford Borrowers at La Salle University
We will assume that the student wishes to continue with the same lender.  If this assumption is not correct, then the student should contact the Office of Student Financial Services.  

For New Stafford Borrowers at La Salle University
If you wish to select one of our recommend lenders for 2009-2010, please complete the 2009-2010 Web Institutional Date Form (WIDF).  For more information, please click here http://www.lasalle.edu/admiss/fin_aid/widf.php
This form should not be completed until after May 1, 2009.

In July, we will send Stafford loan certification to your lender who will then contact you to complete the Federal Stafford Master Promissory Note.

 

LENDER INFORMATION

BORROWER BENEFITS

Citizens Bank

Phone: 888-272-5543

Lender code: 810240
  • .5% origination fee will be charged.
  • 1% default fee will be charged.
  • .25% interest rate reduction for sign up for Direct Repayment (ACH) option.
  • Please note this loan will only disburse to the school for 98.5% of the total loan value. For example: if your loan is for $3,500.00 the school will receive $3,447.50.
  • Repayment Servicing will be done by Sallie Mae.

PNC Bank

Phone: 888-272-5543

Lender code: 809921
  • .5% origination fee will be charged.
  • 1% default fee will be charged.
  • .25% interest rate reduction for sign up for Direct Repayment (ACH) option.
  • Please note this loan will only disburse to the school for 98.5% of the total loan value. For example: if your loan is for $3,500.00 the school will receive $3,447.50.
  • Repayment Servicing will be done by AES.

Sallie Mae Education Trust


Phone: 888-272-5543

Lender code: 802218
  • .5% origination fee will be charged.
  • 1% default fee will be charged.
  • .25% interest rate reduction for sign up for Direct Repayment (ACH) option.
  • Please note this loan will only disburse to the school for 98.5% of the total loan value. For example: if your loan is for $3,500.00 the school will receive $3,447.50.
  • Repayment Servicing will be done by Sallie Mae.
 

You may borrow from any FFELP lender of your choice. The lender you select does not have to be one of the lenders listed above. Please contact the Student Financial Servicesif selecting a lender not listed.

Additional qualification requirements apply for each benefit listed above. Visit each lender’s web site to learn how to earn their benefits.

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We love questions. E-mail us at finserv@lasalle.edu.