Lock Haven University’s Recommended Lenders

Borrowers may choose any participating lender when borrowing through the Federal Stafford Loan, the Federal PLUS Loan, and private alternative loan programs.  We encourage you to compare lenders and choose those whose repayment terms, services, and borrower benefits best meet your needs.

In order to assist families who would like help with selecting a lender, the LHU Student Financial Services Office has developed a list of recommended lenders for the various loan programs.  The lenders on these lists have been chosen based on a variety of factors including exceptional financial benefits for borrowers, quality customer service, and excellent, electronic loan processes.  Each lender listed below has been chosen with our students' best interest in mind.  Once again, borrowers may choose any lender, including lenders not listed below.
 

Below are the lenders which comprise Lock Haven’s recommended lender list. While you are not required to use one of the lenders below, there are several advantages to doing so. First, as of January 2008 and until further notice, each of these lenders has indicated that it will not charge students an origination fee on the Stafford Loans they borrow.  This represents a 1.5% savings and means that most or all of the loan amount borrowed can be used to pay educational expenses.  Second, each of these lenders also participates in electronic processing which greatly reduces the time it takes to obtain a Stafford Loan. Third, these lenders also utilize Electronic Funds Transfer, which means students will not be required to stop by our office each term to endorse student loan checks.

NOTE:  A complete list of Stafford Loan lenders whose loans are guaranteed through AES can be found at: www.aessuccess.org/find_aid_for_school/stafford/index.shtml

 

Below are five lenders which comprise Lock Haven's recommended lender list.  While you are not required to use one of the lenders below, there are several advantages to doing so.  First, these lenders offer a variety of borrower benefits such as rebates of loan principal to qualified, on-time payers and interest rate reductions for borrowers who authorize Direct Debit as their payment method.  Second, these lenders participate in electronic processing, which greatly reduces the time it takes to obtain a PLUS Loan.  Third, these lenders utilize Electronic Funds Transfer, which means a borrower is not required to endorse loan checks before the loan funds can be applied to the student's account. 
 

NOTE:  A complete list of PLUS  Loan lenders whose loans are guaranteed through AES can be found at: www.aessuccess.org/find_aid_for_school/parent_plus/index.shtml

The lenders and products referenced below represent what Student Financial Services believes to be some of the most competitive and flexible private loan options available. We encourage you to contact the lenders listed in the chart for additional information regarding alternative financing options.  Borrowers are free to choose any loan product when borrowing an Alternative Loan.  We encourage you to consider other lenders and other loan products and to choose those whose repayment terms, services, and borrower benefits best meet your needs.

NOTE:  Students and families should refer the Educational Loans page to learn more about Federal PLUS and private alternative loan programs and to review the questions borrowers should ask before securing an alternative loan.

No gifts or incentives of any kind were exchanged with any lending institution in the process of compiling the above lists.  The selection of lenders for these lists was based solely on the best interests of students and families.