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Federal Stafford Loans:

All student loans at SIUE will be through the Federal Family Education Loan Program (FFELP) beginning Fall 2007. The main difference between this and Direct Lending is the origination fee. FFELP lenders offer a 0% fee, while Direct Loans can take out up to a 2.5% loan origination fee. You will have to choose a FFELP lender and complete a one-time Stafford Master Promissory Note (MPN). If you have a Direct Loan, you will be asked to complete a new Master Promissory Note.

If this is your first time borrowing a Federal Stafford Loan, you are required to complete an online Entrance Loan Counseling session before your loan can be disbursed. Visit Mapping Your Future by clicking here or on the icon to the right.


If you are graduating from SIUE - CONGRATULATIONS! Should you have Federal Stafford Loans, we highly encourage you to take part in the online Exit Loan Counseling session. It will not take long to complete the session and in return you will receive valuable information about managing the repayment of your loan.
Entrance Counseling

   Exit Counseling

SIUE has a list of commonly used lenders for you to consider. These lenders were chosen for their good service to our students and their great repayment benefits.  We will, however, process any loan application from any lender the student chooses; students and parents are ALWAYS allowed to choose their own lender.

To apply, please select ONE lender from the list below:


Stafford Loan Lender List (subsidized and unsubsidized)


EdAmerica » Lender Code 831453 » 1-800-337-6884

  • 0% to 1% default fees based on guarantor
  • 0.25% interest rate reduction with auto-debit
  • One point of contact for life-of-loan servicing
  • Combined billing available
  • Fast online application process
  • Text chat via Edlive with dedicated customer service reps
  • Flexible repayment options
  • 24/7 online account maintenance
  • 20 years of expertise concentrating solely on student loans

                                                  Apply Now!


Citibank » Lender Code 826878 » 1-800-967-2400

  • Zero Payments During Last Six Months for Current Loans
  • No prepayment penalties
  • Automatic .50% interest rate reduction at repayment
  • 0.25% interest rate reduction for auto-debit
  • Unlimited chances to earn back lost borrower benefits due to delinquency
  • Life-of-loan servicing
  • Deferment and forbearance options available
Apply Now!


Wells Fargo » Lender Code 807176 » 1-800-378-5526

  

  • No payments while in school at least half time and for six months after the student leaves school
  • Combined billing of Federal Stafford, Federal PLUS and Wells Fargo private loans
  • Repayment options if borrowers need to postpone or temporarily lower payments
  • High quality servicing throughout a student's borrowing experience
  • One place for all of your financial needs
Apply Now!

Sallie Mae » Lender Code 802218 » 1-888-272-4665

  • 0.25 percentage point interest rate reduction for automatic debit
  • 24/7 online account management
  • Expert servicing from the nation's leading student loan company
  • Combined monthly billing when you have multiple Sallie Mae-serviced student loans
Apply Now!

 * Students and parents are always allowed to choose their lender.





© 2008, Southern Illinois University Edwardsville | http://www.siue.edu/financialaid/loans/stafford_loan.shtml | Last modified on 09/02/08 18:34:53