Federal Stafford Loan Lender Partners
Chase Education
(800) 487-4404
Benefits:
0% Origination fee
0% default fee
0.10% interest rate reduction immediately at repayment
Services:
Loans are serviced directly by Chase
Chase does not sell its Stafford loans originated under this lender code
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EDAmerica
(800) 337-1009
Benefits
0% origination fees for 100% of borrowers
0% default fees for 100% of borrowers
0.25% interest rate reduction with auto-debit
Life-of-loan servicing
Combined billing available
Services
Fast online application process
Text chat via Edlive with dedicated customer service reps
Flexible repayment options
Not-for-profit funded
24/7 online account maintenance
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Lender Name: Wachovia
Lender Code: 830005
Phone Number: 800-338-2243
URL: www.wachovia.com/education
Apply Now URL: wachovia.com/staffordapp
Benefits:
Save 0.5% on your origination fee, paid by Wachovia
Automatic 1% principal reduction at disbursement. The benefit is retained when
the first 12 payments are made on time. 0.25% off your interest rate when you
use auto debit
Benefit Rehabilitation: If a borrower is delinquent on one of the first 12
payments, they can re-earn the benefit by completing a financial literacy
tutorial and making the remainder of their first 12 payments on time.
Services:
No payments while enrolled half time or more
No payments for six months after leaving school
No credit check or co-borrower required
Flexible repayment options
Fast online application
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Lenders are not listed in any preference order. New England College will process Federal Stafford Loans from any participating program lender. NEC encourages all students to research lending terms to ensure you receive the very best rates and service. Please make sure to compare borrower benefits ranging from origination and default fees that can reduce the initial cost of the loan as well as benefits that can save money during repayment (automatic rate reductions, auto-debit interest rate reductions or other benefits.)
