How to Select a Lender
Choosing your lender carefully before borrowing can mean a less expensive
and more manageable loan throughout repayment. Managing your student
loans will be easier if you use one lender for all your student loan needs.
It is your right and responsibility to choose the lender for your student
loans.
Benefits:
Although the basic interest rate on federal loans (Stafford, Parent Plus,
and consolidation loans) is the same from lender to lender, you'll be
happy to know that for loans for academic year 2007-2008 lenders will
pay the federal origination fee on Stafford loans. This savings may be
in addition to loan balance reductions and interest rate benefit programs
awarded for demonstrating responsible repayment behavior.
Service:
All lenders will provide the following services:
- responsive, customer-oriented service
- toll-free customer service lines
- online access to account information
- account information available 24 hours a day,s even days a week
- a variety of repayment options designed to meet borrower needs
The following lenders have the Dallas Christian College Profile:
- Wachovia Educational Finance, Inc. - Lender code 830005
- Chase - Lender Code 807807
- Citi Bank- Lender Code 826868
- Next Student
You do not have to pick a lender from the above list, but it's a good
idea, if you want to ensure your application is processed in a timely
and accurate manner.
If you select a different lender you must provide Master Promissory Note
(MPN), Lender Code, telephone number, and correct address to the financial
aid office.
One Lender:
You can get all your loans - both federal and private - from one source
when you borrow from any of the lenders listed above or a lender of your
choice. The advantages of having one lender are:
- one bill with all loan payments compiled
- one place to send payments
- one lender to keep update
- one sources for assistance
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