Choosing a Lender
How do I Choose a Lender?
Interest rates for Federal Stafford Loans (6.8% fixed) and Federal Graduate Plus Loans (8.5% fixed) are the same for each lender, but the repayment incentives for each lender may vary. You may wish to consider the following when choosing a lender:
- Can the lender service all of your loans?
- Does the lender offer benefits or incentives for paying on-time, enrolling in an auto-debit program, or other criteria?
- Does the lender offer combined billing for all of your student loans?
- How is the customer service? (Are you able to obtain clear, concise answers to your questions? Are you waiting on hold? Are the customer service hours sufficient?)
- How long has the lender been in the student loan industry?
- Does the lender provide guidance on managing your debt?
- Does the lender sell their student loans?
For your convenience, we have compiled a list of lenders that may assist you in the lender selection process. You may use any lender you choose. Because many lenders are not offering repayment incentives at this time, the lenders were included on this chart based on their superior customer service provided to Seton Hall Law students, as well as timely disbursement of student loan funds. You should choose the lender that best suits your needs.
Additional Information:
- ELM Resources provides automated Federal Family Education loan Program (FFELP) and alternative (private) student loan data exchange, updates, and loan information for students and schools. You may access an alphabetical listing of Lenders who participate with ELM resources here.
- Click here for additional information on Student Loan Lenders.