First Step - Complete the Federal Stafford Entrance Interview!
Complete the Federal Stafford Entrance Interview at:
Second Step – Select your lender and complete the Master Promissory Note!
We welcome you to select your lender from our partner list below or you may choose any participating Federal Family Education Loan Program Lender for your Federal Stafford Loan. Please read the disclaimer at the bottom of the page.
Federal Stafford Loan Lender Partners
Chase Education
Lender Code: 803000
Phone Number: (800) 487-4404
Benefits:
- Origination fee dependent on guarantor
- .25% for using Automated Clearing House (ACH) for
debited payments from checking/savings account
Services:
- Loans are serviced directly by Chase
- Chase does not sell Stafford loans originated w/this lender code
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EdAmerica
Lender Code: 831453
Phone Number: (800) 337-1009
Benefits
- 1% origination fee
- 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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Wachovia
Lender Code: 830005
Phone Number: 800-338-2243
www.wachovia.com/staffordapp
Benefits:
- 6.0 % fixed interest rate for subsidized undergraduate, 6.8% for all unsubsidized and graduate Stafford loans
- 0.25% interest rate reduction with auto-debit payments
- Make no payments until 6 months after you graduate
- No credit check or co-borrower required
- Multiple repayment options
- Quick online application
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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Key Bank
Lender Code: 811025
Phone Number: 800-539-5363
Benefits:
- 0.25% Interest Rate Reduction when payments made via auto-debit from a checking or savings account
- Make no payments while you are enrolled in school at least half-time and for up to 6-months after graduating or dropping below half-time enrollment
- No prepayment penalties
- Flexible repayment terms based on a 10-year period
- The opportunity to receive a 25-year repayment period, if your outstanding balance of Federal loans totals $30,000 or more.
Services:
- Combined billing with the KeyAlternative Loan
- Convenient on-line access to fully manage your account
- On-line education planning center
- On-line debt management and consumer education tools
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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.) Rates and benefits are subject to change based on terms offered through each lender. Please contact each lender directly for up to date information.
