Lender Arrangements
Given recent investigations into improper student loan practices by several universities in New York State, Loyola University Chicago and the Office of Student Financial Assistance (OSFA) wish to assure students and parents that our university and its employees have not received any direct benefits nor accepted any special compensation from student loan companies or lenders. Loyola and OSFA adhere to the Student Loan Code of Conduct (PDF).
Loyola has established a list of suggested lenders for the Federal Stafford and Federal PLUS Loan programs. Our preferred lenders are evaluated annually for their efficiency in processing, accuracy and customer service. All federal loans are offered with the same terms and conditions, regardless of lender. It is not necessary to establish an account relationship with a lender to receive student loans through that institution.
In addition to working with lenders on Loyola's suggested lender list, Loyola's OSFA will readily facilitate student loans with any requested lender. Though the greatest efficiency is experienced with loans processed by Loyola's suggested lenders, OSFA works closely with all lenders to ensure the best service possible for Loyola students and parents.
Parents and students who have concerns or questions about Loyola's lending relationships or policies should contact Eric Weems, Director, Office of Student Financial Assistance, at: 773.508.3177 or e-mail: eweems@luc.edu.
For general information about financial assistance, call: 773.508.7704 or e-mail: lufinaid@luc.edu.