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Step 6: Student Loans
Central Christian College participates in the Federal Stafford Loan program. There are many lenders who offer Federal Stafford Loans.
You are free to use whichever lender you want to use. Just make sure you follow the three steps to secure a loan.
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Fill out a Federal Stafford Master Promissory Note (request one from the Financial Aid Office).
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Fill out a Student Loan Data Sheet (request one from the Financial Aid Office).
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Complete the federally mandated Entrance Counseling (Step 8).
If, however, if you want to use one of Central's primary lenders, please go to the on-line site of Central's primary loan servicer, MOHELA.
From there you can make an informed choice of which lender you would like to use. Each lender's benefits are there for you to scrutinize so you
can make an informed decision.
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 loans and then we evaluate each one.
Some lenders are chosen for their superior customer service, others for their great benefit package at repayment,
and others for their fee structure at the beginning of the loan. We strive to give you the best list of lenders possible.
The list of primary lenders is in no particular order:
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smartFunds — chosen for great service and participation in the 3% interest relief when you begin repayment
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Commerce Bank — chosen for great service and participation in the 3% interest relief when your begin repayment
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US Bank — chosen for no origination fees up front, unique private loans and great service
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Wachovia — is one of the largest lending institutions in the nation. They are committed to giving great service and great benefit to
the student during repayment. They have several repayment benefits that would be good for the student to investigate.
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Sallie Mae — Sallie Mae is one of the largest student loan lenders in the country. They were chosen because of the great repayment
interest rate for the borrower.
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Fifth/Third Bank — Fifth/Third was chosen for their customer service, no beginning fees, and their repayment benefits.
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Nelnet — Nelnet was chosen because of its back-end benefits for on-time payments. The borrowers should make sure they pay attention
to these. Nelnet loan advisors will help borrowers select the best repayment program to fit their needs. This allows Nelnet to work with borrowers
rather than offer a 'one-size-fits-all' plan that may not be the best long-term solution for the borrower.
If you chose to use one of these lenders, please go to the MOHELA website to start the process.
There are three steps you must follow in order to secure a loan. You can do all of these from the MOHELA website.
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Fill out your Master Promissory Note (MPN).
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Fill out a Student Loan Data Sheet in MOHELA'S FORM CONNECTS.
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Complete the federally mandated Entrance Counseling. (Step 8).
Loan maximums are $3,500 for freshmen, $4,500 for sophomores, $5,500 for junior & seniors. If you are an independent student,
you may qualify for an additional $4,000 for freshman & sophomores and $5,000 for juniors & seniors.
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