|
Step 6: Student Loans
Central Christian College participates in the Federal Stafford Loan Program. There are many lenders who offer Federal Stafford Loans. You, as the borrower, are free to use whichever lender you choose. However, you may also choose one of the lenders listed on Central's "Preferred Lenders List." These lenders are listed for you below as well as the reasons why they were chosen to be on Central's "Preferred Lenders List."
Central's Financial Aid Office has evaluated each lender on our primary lender list. Each year we call for lenders to respond to an invitation to send us information about their student loan products. Some lenders are chosen for their superior customer service, other for helping students with repayment, and others for their regional affiliation within our community.
The following are the student loan lenders, in no particular order, on Central's "Preferred Lender List."
-
Commerce Bank was chosen for great customer service, reliability, and because it is a strong regional bank. It was also chosen because of the other banking services geared toward students, two branches located in Moberly, Missouri. It has chosen MOHELA as the loan servicer, after origination of a student loan, which gives the borrowers the opportunity to be part of MOHELA's exceptional customer service benefits as students enter repayment.
-
US Bank was chosen because it is one of the largest banking institutions in America. In addition, it has many products designed to helping students ensure they have the funds needed to go to college. It has chosen MOHELA as the loan servicer which gives the borrowers the opportunity to be part of MOHELA's exceptional customer service benefits as students enter repayment.
-
Sallie Mae is one of the largest student loan lenders in the country. It was chosen because of quality customer service including helping students manage repayment issues to prevent them from defaulting on their federal student loans.
-
ED America is an institution that works with students in helping them make wise choices as they borrow money to fund their college education. It was chosen to be part of our "Preferred Lenders List" because of the exceptional customer service and up-front payment of some of the required fees for the student borrower.
-
Bank Midwest was chosen because not only does it have branches in many communities in Missouri, it also has a branch located in Moberly. Additionally, MOHELA is used as the loan servicer which gives the borrowers the opportunity to be part of MOHELA's exceptional customer service and benefits as students enter into repayment.
If you choose to use one of these lenders, please go to the MOHELA website to start the process. From there you can make an informed decision on which lender you would like to use. Each lender's benefits are there for you to scrutinize so as to make your decision easier. You will also be able to read a paragraph from each lender as to why you should pick it as your lender. Remember, it is always your choice.
If you think you still need more options, MOHELA also has a listing of the national lenders of Stafford student loans. Please feel free to look at this list and choose your lender for your Stafford student loans from among those listed.
There are three steps you must follow in order to secure a loan. You can do all of these from the MOHELA website.
-
Fill out your Master Promissory Note (MPN).
-
Fill out a Student Loan Data Sheet in MOHELA'S FORM CONNECTS.
-
Complete the federally mandated Entrance Counseling. (Step 8 on our web pages).
Loan maximums for the 2009-2010 academic year are $3,500 for freshmen, $4,500 for sophomores, $5,500 for junior & seniors. In addition, dependent students may qualify for an additional $2,000 an academic year in an unsubsidized loan. Independent students may qualify for additional unsubsidized loans in the amount of $6,000 for freshmen and sophomores and $7,000 for juniors and seniors. Please remember that loan requests will be divided into two (2) equal parts for distribution. Half of the loan will be distributed during the fall semester and the other half during the spring semester.
<< Back | Next >>
|
