 Lender Information
Lenders
This list is offered to assist you in selecting a lender, it is a list of the lenders Law Students choose during the 2009-2010 academic year. It is not inclusive of all lenders available. You may choose a lender that is not on this list, and we will make every effort to process loan requests in a timely manner.
Most lenders are not currently offering a Bar loan. The lenders listed below are still offering this product. Please contact them directly to apply for this loan.
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Lender SelectionOne of the most important decisions you will be making in the loan application process is choosing a lender, because you will be establishing a relationship that likely will last for more than 10 years.
We are pleased to supply you with a list of lenders who our students selected for the 2008-2009 academic year.
If you prefer to select a lender who is not listed above, please contact the Financial Aid office. We will process your request to ensure the delivery of your funds in an efficient and timely manner.
Generally, it is best to continue borrowing each year from the same lender. This simplifies your record keeping as well as your repayment, usually allowing you to make a single monthly payment on all your loans. If you have more than one lender, the total of your monthly payments to multiple lenders may exceed the total of a single payment to one lender. If you currently have loans with multiple lenders, or are dissatisfied with your current lender and wish to change, stop by the Financial Aid Office to discuss the option of combining all your loans with one financial institution.
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Secondary MarketsSome lenders will sell student loans to a secondary market, either immediately after disbursement or when a borrower graduates. The terms and conditions will always remain the same, but payments are made to the new holder.
Many lenders and secondary markets contract with outside agencies to service a loan (handle the day-to-day management of the loan) while the borrower is in school or in repayment. Borrowers communicate with the servicer (not the lender or the holder) about deferments, billing, payment processing, address changes, etc.
Some lenders retain ownership and provide all the servicing of the loan until it is paid. Advantages with selecting a lender who doesn't sell and who also services the loan include clarity about who to contact regarding the loan and the convenience of working with lenders who deal exclusively with their own student borrowers (Secondary markets and loan servicers are managing the accounts of borrowers from many different lenders).
Lenders are required to inform borrowers in writing if the loan is sold or transferred to a loan servicer.
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Master Promissory Note (MPN)
Once you've selected your lender, please complete a Master Promissory Note (MPN).
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