Comparison Chart of Lenders

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Lender Comparison for Stafford

Comparison Chart of Lenders
for Student Loans

Through the FFEL student loan program you may borrow from any lender that participates in the FFEL program. In order to assist students who have not yet chosen a lender, the University has created this comparison chart, with the list of prospective lenders developed through a review process that focused on value to students, reliability and service. This list provides information regarding certain fees, terms and service features which should be considered by a new borrower. It is generally recommended that borrowers use the same lender throughout their academic career in order to simplify the repayment process.

Students are encouraged to seek the student loan that is the best fit with their needs. You are not limited by the list of lenders below. Please contact your financial aid counselor for assistance as needed or with any questions you may have. The office number is 479-575-3806. You may also find your counselor’s direct number from the counselor contact page.

The Financial Aid Office is often asked to provide a code for a local Arkansas lender that a student has chosen. The links at the bottom of the page should provide such a code for lenders in Arkansas. A borrower should also be able to receive the lender code by contacting the lender. Again, please do not hesitate to contact our office for any assistance or questions you may have. We want you to finance your academic career with your lender of choice.

Benefits for Parent PLUS and Graduate PLUS loan borrowers may vary.

Lender Name	Lender Fee (fees charged by lender at time of disbursement)	Do They Sell My Loan?	Guarantor Fee (fees charged by guarantor at time of disbursement)	Repayment Secondary Market	Repayment Incentives
(Must have a permanent Arkansas Address outside the city limits of Little Rock, North Little Rock, Pine Bluff, and Fort Smith) New borrower must submit for first loan only, an AREF application. Download at www.aref.org Lender Code: 800246	Paid	Yes	Paid	Arkansas Student Loan Authority	3.00%	▪ 1% interest rate reduction for electronic draft payment. ▪ 1% interest rate reduction after 24 months of on-time payments. ▪ 1% (additional) interest rate reduction after 36 months of on-time payments. ▪ Qualified Arkansas Teachers, Nurses, Law Enforcement Officers, Paramedics, and members of the National Guard are eligible for a total of 4% interest rate reduction from the start of repayment.
Lender Code: 800301	Paid	Yes	1.00%	Missouri Higher Education Loan Authority	2.00%	▪ 2% interest rate reduction for electronic draft payments. ▪ 2% interest rate reduction and additional 2% auto-debit for a total of 4% for Public Service Reward in qualifying careers in Nursing, Teachers, Paramedics, Law Enforcement Officers, and Arkansas National Guard.
Lender Code: 807674	Paid	Yes	Paid	OSLA	3.50%	▪ 1% reduction to your loan principal after the first 3 on -time payments. ▪ 1.50% interest rate reduction after the first 12 on-time payments. ▪ 1% interest rate reduction for using electronic draft payments.
Lender Code: 826878	Paid	No	Paid	None	7.25%	▪ ZERO Payments for the last six months (saves students up to 6.00% on principal balance) ▪ 1% interest rate reduction automatically at repayment ▪ 0.25% interest rate reduction when payments are automatically withdrawn from a bank account
Lender Code: 833733	1.5% of Total Loan Amount	No	1.00%	None	11.25%	▪ 1% cash rebate of the principal balance oustanding after graduation and first on-time payment ▪ 10% credit of the principal balance outstanding after making 48 consecutive, scheduled payments. ▪ 0.25% interest rate reduction when payments are automatically withdrawn from a bank account
Lender Code: 834348	1.5% of Total Loan Amount	Yes	Paid	OSLA	3.50%	▪ 1% reduction to your loan principal after the first 3 on -time payments. ▪ 1.50% interest rate reduction after the first 12 on-time payments. ▪ 1% interest rate reduction for using electronic draft payments.
Lender Code: 833669	Paid	No	Paid	None	4.33%	▪ 3.33% interest rate reduction after 30 on-time monthly payments ▪ 1.0% interest rate reduction when payments are automatically withdrawn from a bank account
Stafford Lender Code: 802218	Paid	No	Paid	Sallie Mae	3.00%	▪ 2% account credit after 24 on-time payments. ▪ Additional 1% reduction after 48 on-time payments.
Simmons First Lender Code: 815745	1% of Total Loan Amount	Yes	Paid	Arkansas Student Loan Authority	3.00%	▪ 1% interest rate reduction for electronic draft payment. ▪ 1% interest rate reduction after 24 months of on-time payments. ▪ 1% (additional) interest rate reduction after 36 months of on-time payments. ▪ Qualified Arkansas Teachers, Nurses, Law Enforcement Officers, Paramedics, and members of the National Guard are eligible for a total of 4% interest rate reduction from the start of repayment.
Stafford Lender Code: 823584	Paid	No	Paid	Nelnet	5.25%	Undergraduate Effective: 7/1/06 ▪ 5% principle reduction after 48 on time payments. ▪ 0.25% interest rate reduction for auto debit
Stafford Lender Code: 823584	Paid	No	Paid	Nelnet	5.25%	Graduate Effective: 7/1/06 ▪ All undergraduate benefits plus ▪ Three for Free - Receive 3 months of repayment relief upon graduation following the grace period (9 months after graduation until repayment)
Lender Code: 811930	Paid	Yes	Paid	Arkansas Student Loan Authority	3.00%	▪ 1% interest rate reduction for electronic draft payment. ▪ 1% interest rate reduction after 24 months of on-time payments. ▪ 1% (additional) interest rate reduction after 36 months of on-time payments. ▪ Qualified Arkansas Teachers, Nurses, Law Enforcement Officers, Paramedics, and members of the National Guard are eligible for a total of 4% interest rate reduction from the start of repayment.
Lender Code: 830005	Paid	No	1.00%	None	3.50%	▪ Use auto withdrawal and receive: 1% principal reduction upon repayment Additional 1% principal reduction after 12 months of on-time payments Additional 1.5% interest rate reduction after 24 months of on-time payments

Notice: Lender benefits are subject to change without notice.

ASLA Team Lenders SLGFA Lenders

Fayetteville, Arkansas 72701
(479) 575-3806