About our Lender Partners These are our Lending Partners as selected through a competitive process following a Request For Proposal (RFP) process through the FIU Purchasing and Procurement Office. We encourage you to research these Lenders when deciding who you will borrow through. The Lenders were selected on the basis of best service in processing, lowest cost and customer service. If you wish to use a Lender not on our Lending Partner list, through PantherSoft, please complete an Administrative Request with the name of your Lender. In order to expedite the processing of your loan, please request your Lender to submit by mail or by fax a Stafford Loan Certification form to the Financial Aid Office. ........................................................................................................................................................................................................................ After you decide to borrow a student loan for your education, your next task is to select a lender. If you need a starting point, the financial aid office at Florida International University provides a list of Lender Partners. (The repayment process may be less complicated if you can borrow all your student loans from one lender.) As you consider the options, ask about both the products and services each lender offers. Their responses in regard to the following questions may strengthen the confidence you already have in a lender or help you determine which lender can best meet your needs. Q:   How long has the lender been working with student loans? Lenders who have been working with student loans for many years have the experience and knowledge that provide stability and a worry-free experience for you.       Q:   What financial institution funds the lender’s student loan program? Some lenders are able to finance their own student loan programs. Other lenders offer student loans to their customers with programs funded by other agencies or companies.       Q:   Does the lender sell their loans to a secondary market? Once a student loan is scheduled to go into repayment, the lender may sell the loan to a secondary market which will service and collect the loan. Some lenders service their student loans until they are paid in full so that customers can rely on having one point of contact throughout the life of the loan.       Q:   Does the lender use a third party to service their loans? Lenders may service their own student loans from disbursement through repayment, or they may contract with another entity who will service the loans – sometimes as soon as the loan is disbursed.   Q:   How quickly can you get a response to your questions? You may prefer using a toll-free telephone number to reach a customer service representative, or maybe you would rather have online access 24 hours a day, seven days a week. Perhaps you want the convenience of being able to choose either one.       Q:   What other services does the lender provide? Other than student loans, lenders may offer services such as basic lessons in finance, financial counseling tools and calculators, and college-planning services as well as student checking accounts, student credit cards, and online account access.       Q:   Does the lender offer both FFELP (Federal Family Education Loan Program) and alternative loan options? Sometimes grants, scholarships, and FFELP loans don’t cover all the expense of your education. An alternative student loan can help to fill the gap. While an alternative loan may be more expensive than a FFELP loan, repayment terms maybe more generous than regular conventional loans. Lenders who offer both FFELP loans and alternative student loans may also offer combined billing – one good reason for having all your student loans with one lender.       Q:   Does the lender eliminate fees or offer rewards for responsible repayment? If they offer alternative loan programs, lenders may charge no origination, repayment, or prepayment fees on the loans. In addition, some lenders offer discounts for automatic and on-time payments for both alternative and FFELP loans. Discounts on FFELP loans may include interest rate or principal balance reductions, and fees may be waived or refunded.       Q:   How can the lender help you achieve financial success after you are out of school? A lender with a reputation for excellence in the financial industry and one that delivers b and stable leadership is the most likely lender to be your partner in achieving financial success at any stage in your life. The Florida International University is a member of ELM which provides automated processing of federally guaranteed and alternative student loans through the Internet. ELM, a nonprofit company supported by member lenders, guarantors, and servicers, also allows schools their choice of loan providers and the option to change their process to include or exclude providers based on service. Lenders with superior technology can successfully receive a school’s certification request, process a loan approval, and respond to the school within seconds. A lender that meets the test of cutting-edge technology allows prompt and accurate processing of student loans through ELM, and students receive their payments in a timely manner.