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Lenders For Your Consideration

• WHY DOES SUNY COBLESKILL HAVE “SUGGESTED LENDERS”
  
• The Financial Aid Office at SUNY Cobleskill feels strongly about giving our students and families the best advice possible.  For most of our families loans make college affordable.  Thus, we have made up a list of suggested lenders based upon data we received from a lengthy list of banks that we have sent a Request For Information.  This list may change from year to year based on their service to our students and their benefits offered.  This list is meant to be a tool to assist students and families in the process of choosing a lender.  Please keep in mind, the final choice is yours, and does not have to be a lender from our list.  We are willing and capable of assisting you in receiving a loan from the bank of your choice.
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• HOW DOES SUNY COBLESKILL SELECT ITS “SUGGESTED LENDERS”?
  
• 1-Customer Service and Technology:
  Loan borrowers should receive quick, efficient and accurate processing of their loans through a simplified application process.  Programs should interface with the university’s financial aid processing system assuring a streamlined, electronic loan certification and funds delivery system.  Timely and responsive processing with outstanding problem resolution service is essential.  A toll free number for borrower information is required.
  
• 2-Lender Stability and Reputation:
• Our suggested lenders must be well established in the student educational loan industry for a minimum of five years.  They also must maintain a proven record of excellent customer service to borrowers.  This includes offering a variety of repayment options and the maintenance of a well-trained staff to answer questions via a toll-free number.
  
• 3-Debt and Default Management:
• We want our lenders to be responsible lenders about debt management.  This includes providing useful websites to educate students on financial issues, offering debt management tools and programs, and offering credit management/credit card education programs.  Responsible lenders want to help our students become responsible, credit-worthy consumers in the future. 
• For default management they offer web-based default management tools and early intervention for borrowers who are delinquent on their loan payment.
  
• 4-Borrower Benefits:
  Our suggested lenders have competitive rates and provide above-average repayment benefits to loan borrowers.
  
• CAN A BORROWER SELECT A LENDER NOT ON THE “SUGGESTED LENDER” LIST?
• Absolutely! The choice is yours.  Reasons for selecting a particular lender can vary from person to person.  Some choose a lender based on name recognition or where they have already had positive banking experience.  Others prefer the immediate benefits of lower origination fees, resulting in more money up front.  Still others prefer the long-term advantage of repayment options like an interest rate reduction as a reward for making payments on time.  The choice is yours to make.

2008-2009
SUNY Cobleskill’s Suggested Lender List

*** Information is subject to change