Suggested Lenders for Alternative LoansFinancial Aid Services selects the suggested lenders as follows:
- Financial Aid Services (FAS) meets annually with all suggested lenders and any lenders that solicit an appointment to discuss loan products.
- The lender provides FAS with:
borrower benefits
customer support
loan resale agreements
accuracy and timeliness of loan processing and delivery - FAS assesses the information and each lender is ranked using a score card.
- The top 5 highest ranking lenders are listed as HCC's Suggested Lenders.
Student and parent borrowers may select any lender they wish, whether or not the name of the bank or credit union is on this list. Some lenders may have more manual processes which may cause a delay in loan processing, approval, and/or disbursement. In addition, HCC must be approved to certify loans with the guarantee agency that works with the lender. Students and parents are encouraged to contact Financial Aid Services to speak with a counselor regarding various lender services and options.
All lenders who wish to discuss loan products and borrower benefits are welcome to contact Financial Aid Services for an appointment.
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Edamerica
866-398-7725 | 0% - 10% | Prime + 0 to Prime + 9.9% | 0 | Up to 20 years repayment |
SunTrust
866-897-9793 | 0% - 9.5% | Libor plus margin of 2.8% - 5.45%, Libor is 4.99% beginning July 1-September 30 | 0 | Up to 25 years depending on amount borrowed |
Wachovia Education
800-338-2243
Lender code: 830005 | Zero fees for all borrowers | Interest rate as low as Prime minus 1% in repayment | 0 | Up to 20 years repayment |
Information posted as of 07-01-08. Due to the current economic conditions of the lending industry, this information is subject to change. Please consult lender webpage to verify current interest rates, fees, and repayment incentives.
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