Choosing a Lender

Since Stafford loans are part of the federal government's Title IV aid programs, eligibility requirements, borrowing criteria, and repayment terms are set by law. So, what often differentiates one lender from the next is what occurs when the Stafford loan is initially disbursed and when the loan is in repayment.

For example, some Stafford lenders withhold an origination fee from each loan disbursement, while many others waive that fee. For loans in repayment, many lenders offer borrowers ways to reduce the interest rate or principal balance of their loans. These benefits are almost always tied to timely payment by the borrower. You may wish to take these factors into consideration when selecting a lender.

The following is a list of commonly used lenders that Highland has partnered with in order to offer loan options for our students. All of these lenders have met a minimum set of service requirements, including offering benefits which allow responsible borrowers to receive interest rate reductions or principal rebates during repayment; have a proven track-record of reliable customer service; and utilize electronic funds transfer (EFT).  Highland Community College does not benefit from referring students to any

lender and cannot recommend one lender over another.

You may use a lender that is not listed on this page. If the lender participates in the EFT process, the delivery time of the loan will be similar to that available with the lenders listed here. If you choose a lender that does not use the EFT process with Highland Community College your loan could take a longer period of time to process.