Loyola University Chicago

Suggested Lenders

• Loyola's Lender Arrangements

Loyola has established a list of suggested lenders for the Federal Stafford and Federal PLUS Loan programs. Our suggested lenders are evaluated annually for their efficiency in processing, accuracy and customer service. The federal loans are all 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.

Federal Stafford Loans have a 1% origination fee deducted from each disbursement.  Some lenders may also charge an additional 1% default fee.  If you are not using one of Loyola's suggested lenders, contact the lender for details. PLUS loans have a 3.0% federal loan origination fee deducted from each disbursement.

If you do not have a prior Federal Stafford Loan, you may choose a lender from Loyola's suggested lender list or use another lender participating in the Federal Family Educational Loan Program.

If you are enrolled at Loyola for Summer 2008 and would like to use a lender not on our suggested lender list, complete the Lender Change Form and mail it to the OSFA.

If you choose a lender outside of Loyola's suggested lender list, the OSFA will be happy to facilitate your loan with your 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. Contact the OSFA for more information about the application process.

Many lending institutions make direct solicitations to students and parents to use their services for federal student loan borrowing. The OSFA recommends that students and parents be cautious about these lenders, as our experience shows that they may not provide the same level of service as suggested lenders. Contact the OSFA for more information about the application process.

Citibank
P.O. Box 6191
Sioux Falls, SD 57117
Phone: 800.967.2400
Lender Code: 826878

Edamerica
123 Center Park Drive
Knoxville, TN 37922
Phone: 800.337.6884
Fax: 877.337.8439
Lender Code: 831453

Wells Fargo
P.O. Box 5185
Sioux Falls, SD 57117-5185
Phone: 800.658.3567
Lender Code: 807176