Loans: Choosing a Federal Stafford Loan Lender

 

Funds for Federal Stafford Loans are provided by private lending agencies. Oberlin has strong working relationships with several preferred lenders and knows that they provide consistently good service to students and their families, including such services as electronic fund transfers and special repayment incentives. Working with a preferred lender expedites the delivery of your loan funds to Oberlin. 

To choose a different lender, you should simply complete the Oberlin Federal Stafford Loan Request Form listing the lenders complete name and lender code.  Choosing a non-preferred lender may result in a longer processing time and your funds may not be sent to Oberlin by Electronic Funds Transfer.

Please note Oberlin's Preferred Lender List is only a suggestion of potential loan providers.  Oberlin receives no compensation, income or in kind support from these lenders in return for being placed on our Preferred Lenders List.  Students and families are highly encouraged to select a lender that best suits their individual needs regardless of whether or not that lender appears on Oberlin's Preferred Lender List.

Oberlin College Preferred Federal Stafford Loan Lenders
 Lender code

Student Loan Funding - Apply online!

1-877-477-7537

  • 0% default fee
  • 0.25% interest rate reduction for automatic payments

*Benefits are available on loans first disbursed 2/1/08-6/30/09. Terms and conditions apply. The 1% federal default fee will be paid on the borrower's behalf on loans guaranteed by USA Funds 2/1/08-6/30/09.

A 0.25 percentage point interest rate reduction for paying by automatic payment is available during active repayment for as long as the borrower's monthly payment is successfully deducted from his/her bank account.

STUDENT LOAN FUNDING AND SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE.

 

 

 

 

831455

Chase - Apply online!

1-800-487-4404

  • 0.25% automatic interest rate reduction immediately at repayment

CHASE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE.

 

 

803000

Citibank - Apply online!

1-800-967-2400

  • 0.25% interest rate reduction for auto debit
  • 5 day grace period
  • Benefit recovery: ability to regain the benefit after 24 consecutive on-time payments
  • Free identity theft assistance to all borrowers

CITIBANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE.

 

 

 

826878

Wells Fargo  - Apply online!

1-800-658-3567

  • 0.50% interest rate reducation at repayment upon verification of graduation with the new Wells Fargo Student Graduation Benefit (sm) Program
  • 0.25% interest rate reducation at repayment for auto debit
  • Combined billing for federal and private loans

WELLS FARGO RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE.

 

 

 

807176