Stony Brook University established its Private Educational Loan Lender List by proactively requests that are requesting Information (RFI’s) from lenders. Lenders on our list have actually demonstrated a consignment to supplying top quality customer support and fast accurate loan processing. The performance of our loan providers is assessed each scholastic 12 months. This assessment is carried out by a committee of educational funding specialists and it is centered on many different requirements such as for example consumer solution and technology, loan provider stability and reputation, default administration, and borrower advantages. Record may differ from 12 months to 12 months as present loan providers are examined and lenders that are new considered. All of our test loan providers must meet up with the following requirements:
Customer support and Tech:
Loan borrowers should get fast, efficient, and accurate processing of the loans by way of a simplified application procedure and high tech operations. Programs should interface aided by the universityвЂ™s financial aid processing system assuring a streamlined, electronic loan official certification and funds distribution system. Timely and responsive processing with outstanding problem quality solution is important. a toll number that is free debtor info is needed. Preferably, there must be separate devoted toll free figures for borrowers at school and in repayment status.
Lender Stability and Reputation:
Our test loan providers, their affiliates, and associated loan servicing agencies must certanly be more developed within the pupil loan industry that is educational. (more…)