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The following is our suggested Lender List for the Federal Student Loan program. We provide the list to assist you in choosing the benefit that best meets your needs. We have chosen these lenders because of their customer service and outstanding savings. We suggest you use one of the choices shown but we will certify a loan for another lender of your choice if you prefer.
* ~ * Be advised - Borrower benefits listed are subject to change and are based on either guaranteed date or disbursement date as determined by the lender; not based on the MPN signed date. * ~ *
Lender List Rationale
The University of Saint Francis Office of Financial Aid selected the suggested lenders through an official Request for Information (RFI) process. The RFI concentrated on selecting lenders based on stability, customer service and benefits for borrowers. Lenders were not selected if they have not been in business for 10 years or more to try and ensure stability in the FFELP loan program. After the RFIs were received, they were reviewed by assigning points based on lender responses to specific questions. The areas that were evaluated were lenders selling their loans, selling student names, customer service standards, cohort default rates, benefit guarantees, single point of contact for school to resolve issues, and benefits offered to the borrower. Customer service standards that were evaluated were abandon rates for phone calls and response times to phone, email and mail. Preference was given to benefits that were guaranteed, had the greatest savings, and had front-end benefits so that the majority of borrowers are able to receive the benefit and cost savings. After all lenders were evaluated, the top in each FFELP category were selected for the suggested list.
| Lender Information | Fees | Borrower Benefits | Select |
Wells Fargo
Lender Code: 807176 |
1.5% | x |
Select |
Edamerica
Lender Code: 831453 60 |
1.5% | 0.25% Interest Rate Reduction with Auto-Debit |
Select |
Citibank
Lender Code: 826878 |
1.5% | 0.25% Interest Rate Reduction with Auto-Debit and agreeing to receive E-statements only |
Select |
Nelnet
Lender Code: 824573 |
1.5% | 0.25% Interest Rate Reduction with Auto-Debit |
Select |
Charter One
Lender Code: 808140 01 |
1.5% | 0.25% Interest Rate Reduction with Auto-Debit |
Select |
PNC
Lender Code: 809921 |
1.5% | 0.25% Interest Rate Reduction with Auto-Debit |
Select |
Other Lender
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1.5% | x |
Select |
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