St. Cloud State University
Types of Financial Aid - Federal
Stafford Loan - Lender List
Through Summer 2009, St. Cloud State University participates in the Federal Family Education Loan Program (FFELP). Under FFELP, the borrower selects the lender; St. Cloud State does not endorse any one lender. The lender and a guarantee agency may deduct an origination fee (1.0%) and a default aversion fee (1.0%) from the loan prior to disbursement.
As a potential Stafford Loan borrower, it is important that you have a complete understanding of this loan program. You are also encouraged to read our Student Loan Code of Conduct.
While student borrowers may choose any participating lender for the Stafford loan, the following is a list of experienced lenders that have been selected based on their commitment to provide efficient service to all St. Cloud State students, outstanding customer service and state-of-the-art electronic capabilities.
If you choose to use one of the lenders listed in the table below, click on the name of your chosen lender, select the "Apply for a Loan with..." link listed with the specific lender. If you have previously borrowed through the Stafford Loan program you are encouraged to remain with the same lender. If you choose not to use one of the lenders from the list below, simply select “My Lender is Not Listed” from the table below to complete and return a Loan Request Form to our office.
[+]Borrower Benefits / How to Apply
While all federal Stafford loans have the same interest rates and fees, some lenders offer payment discounts to borrowers that can reduce the cost of the loan.
These incentives, called “borrower benefits”, include interest rate reductions, full or partial origination fee rebates, principal balance reductions, and rewards for using automatic direct debit of monthly payments and/or making on-time monthly payments. Borrower benefits may vary by lender so review each of the lenders’ borrower benefits to determine your best option.
Click on the lender name from the lenders below to see the details.
[+]Associated Bank
Associated Bank
1-800-789-6765
www.associatedbank.com
- 0.25% interest rate reduction for auto-debit payments.
[+]Bremer Bank
BREMER BANK is no longer making or servicing Stafford Loans.
[+]Citibank
CITIBANK
www.studentloan.com
1-800-967-2400
- 0.25% interest rate reduction for auto-debit payments with agreement to receive only electronic statements.
[+]Edamerica
EDAMERICA
www.edamerica.net
1-800-337-6884
- 0.25% interest rate reduction for auto-debit payments.
[+]U.S. Bank
U.S. BANK
www.usbank.com/studentloans
1-800-242-1200
- 0.25% interest rate reduction auto-debit payments.
[+]Wachovia
WACHOVIA
www.wachovia.com/education
1-800-338-2243
- 0.25% interest rate reduction for auto-debit payments.
[+]Wells Fargo
WELLS FARGO
www.wellsfargo.com
1-800-658-3567
[+]My Lender is Not Listed
We will certify your loan through any lender in a timely and efficient manner, however, selecting a lender that is not on our lender list may limit our ability to process, track or revise your loan.
Summer 2009: Complete the 2009 Summer Stafford Loan Request Form (PDF/1 Page)
This lender is not affiliated with any other lender on this list.
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St. Cloud State University is an affirmative action/equal opportunity educator and employer.
St. Cloud State University is a member of the Minnesota State Colleges and Universities system.
