Federal Stafford Loan

Lenders For Your Consideration

How UAlbany Selects Lenders For Your Consideration Why UAlbany has Lenders For Your Consideration Am I required to use a Lender from Lenders For Your Consideration? Federal guidelines regulate the primary features of the Federal Stafford loan program, such as interest rates and repayment terms. However, there are differences in the services that lenders provide, including a variety of repayment options. We recommend that you borrow all your loans from one lender to simplify your repayment process.  Please be sure to borrow only what is necessary and take the time now to make the best financing decisions. Students can borrow from any lender that participates in the Federal Stafford Loan program. Below are the names of Stafford lenders you may wish to consider, from whom our student's have received exceptional customer service. It is not necessary to have a prior relationship with a lender to borrow a Stafford loan. Lender Information 08/09 Benefits and Fees Chase Servicer: Chase Lender Code: 803000 Telephone: 1-800-487-4404 1% default fee 1% origination fee 0.25% interest rate reduction for automatic payment deduction from bank account RBS Citizens, N.A. Servicer: Nelnet Lender Code: 807745 Telephone: 1-800-708-6684 1% default fee 1% origination fees 0.30% interest rate reduction for automatic payment deduction from any bank account Borrower must enroll in automatic payment deduction from any bank. This benefit can be lost due to 3 non sufficient funds within a 12 month periord, or if the borrower stops automatic payments. Benefit may be reinstated if specific conditions are met. EdAmerica Servicer: EdAmerica Lender Code: 831453 Telephone: 1-800-337-1009 1% default fee 1% origination fee 0.25% interest rate reduction for auto-debit Life of loan servicing Bank of America Servicer: ACS Lender Code: 831495 Telephone: 1-800-835-1161 1% default fee 1% origination fee 0.25% interest rate reduction for having a Bank of America deposit account Automatic debit is not necessary to receive benefits No need to sign up for the benefit,simply make 1st payment on-time Benefits can not be lost once earned Wachovia Education Finance Servicer: Wachovia Lender Code: 830005 Telephone: 1-800-338-2243 1% default fee 1% origination fee 0.25% interest rate reduction with auto debit payments. Citibank Servicer: Citibank Lender Code: 826878 Telephone: 1-800-967-2400 1% default fee 1% origination fee 0.50% automatic interest rate reduction at repayment for all borrowers 0.25% interest rate reduction when borrower signs up for auto-debit payment program Unlimited benefit recovery. Unlimited opportunities to earn your automatic rate reduction back if you ever miss a payment. You may regain the lost interest rate reductions by subsequently making 24 consecutive on-time monthly payments, anytime during the life of the loan. Key Bank Servicer: Great Lakes Lender Code: 811025 Telephone: 1-800-539-5363 1% default fee 1% origination fee 0.50% interest rate reduction when a borrower enrolls in auto-debit payment program