Choosing your Student Loan Lender
Choosing a lender
is an important step in the student loan process. The George Washington University has compiled
a Preferred Lender List made up of lenders whose terms, service and
application/certification/disbursement processes appear to be favorable for
student borrowers. Students may, but are
not required, to work with any of the lenders on this list. Students
may choose to work with any eligible federal or commercial lender for their
borrowing needs, whether on the GW Preferred List or not. The GW Office of Student Financial Assistance
will work with any lender a student selects to certify the student’s loan(s)
and to facilitate loan disbursement.
In completing our Preferred
Lender list, the Office of Student Financial Assistance requested information from
a total of 12 lenders. Some of these
lenders have worked with the University in recent years. The other lenders selected were based on
conversations with financial aid colleagues within the University, and our
general knowledge of the reputation of these lenders. By “general reputation” we mean the size and
scope of the services and products provided by these lenders.
The following is
our Preferred Lender List:
Chase
Citibank
Sallie Mae
Wachovia
Wells Fargo
National Education (Alternative Loan only)
We chose these
lenders based upon: (1) competitiveness
of loan terms; (2)ease of application, certification, and disbursement
for students; (3) customer service available to students; (4) stability and diversity
of financial products offered; and (5) general reputation. Please note that for alternative loans, the
loan terms were accurate as of the date we solicited information from
lenders. You should check directly with
the lender for the most accurate loan terms.
2008-2009 Lender
List Comparison Chart
Follow the link
above for the current borrower benefits being offered by each lender. Students may use the list of lenders and the
attached information as reference tools.
Students should conduct independent investigations of these lenders, as
well as of lenders not listed.
To compare all aspects of loan programs, students are encouraged to contact
individual lenders. Students may also
use an independent and interactive web-based loan analyzer located at:
www.finaid.com/calculators/loananalyzer.phtml.
