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.