UCLA's
Stafford Loan Lender List
Below, please find a list of lenders who participate in UCLA’s electronic process for the delivery of Federal Stafford Loans. In order to ensure efficiency and ease of process and to allow for the electronic disbursement of your loan funds, UCLA works with Sallie Mae and uses the OpenNet site to originate and service Stafford Loans for all of UCLA’s electronic lenders. For your convenience, you can continue to access OpenNet or contact Sallie Mae in the future to obtain information on the origination, disbursement and repayment of your loans, if you choose to borrow through any of the lenders listed below.
NOTE: If you select to borrow from
a lender not listed below, please contact them
directly to complete your loan application. Please
note that we may not be able to disburse funds
electronically for lenders not listed below. Please
check with the Financial Aid Office for additional
information.
Additional information about Stafford Loan
application process, loan terms and conditions can
be found in
The Stafford/Unsubsidized Stafford Guide.
Click here, if you would like to
check on the status of an existing application.
Click here to access
College Answer Calculators.
To apply for your Stafford loan, click on
‘Apply Now' link for the lender you select below.
CHOOSING A LENDER – LOOK FOR WAYS TO SAVE |
Before you select a lender for your Stafford
Loan, please take a look at the different
repayment incentives offered by UCLA's Stafford
Lenders.
NOTE: Interest rate is fixed
at 6.8%. Loan fees, if applicable (see
below), are deducted from each disbursement. |
Nellie Mae
(829076)
APPLY NOW
|
FEES: None for loans guaranteed before 5/2. 1.5% origination fee on/after 5/2.
For loans guaranteed before 02/01/08:
1% loan credit after making first 6 payments as initially scheduled. Additional 2% loan credit after making the first 12 payments on time. Borrower must sign up for Manage Your Loans to qualify. 0.75% interest rate reduction for auto-debit.
For loans guaranteed on/after 02/01/08:
1% loan credit after making first 12 payments as initially scheduled. Borrower must sign up for Manage Your Loans to qualify. 0.25% interest rate reduction for auto-debit. |
Bank of America
(806746)
APPLY NOW |
Fees: None.
3% principal rate reduction after making 36 payments on-time:1% principal rate reduction after making payments 1-12, 1% principal rate reduction after making payments 13-24, 1% principal rate reduction after making payments 25-36. 0.25% interest rate reduction with ACH debit from any checking or savings account. 45 day grace period.
|
CHELA Education Financing (833953)
APPLY NOW |
For loans disbursed before 10/01/07:
Fees: None.
1.50% interest rate reduction during repayment. Additional 0.25% interest rate reduction for auto-debit of loan payments. Minimum loan balance of $7500 required. Benefit is lost if the account becomes 30 days past due.
For loans disbursed on/after 10/01/07:
Fees: 1.5% origination fee and 1% loan default fee.
CHELA will forgive the last five payments on your loan after all previous payments are made on time (no more than 3 days past the scheduled due date). Additional two last payments will be forgiven for using auto-debit to make your loan payments. To qualify, you must sign up for e-correspondence and complete exit counseling at www.nelnet.com. If prepayment exceeds more than three times the value of regularly scheduled payment, the last five payment s will not be waived. |
ALL Student Loan Corp. (833752)
APPLY NOW
For loans disbursed on/after 06/01/07. |
Fees: None.
2.25% interest rate reduction at repayment (includes a 1.00% interest rate reduction for on-time payments and a 1.25% interest rate reduction for automatic debit payments). Aggregate balance of $7500 required.
|
AMS
(833067)
APPLY NOW
|
Fees: None for loans guaranteed before 5/2. 1.5% origination fee on/after 5/2.
For loans guaranteed before 02/01/08:
5% loan credit or check payable in two installments; 2.5% at repayment and 2.5% after making the first 12 on time payments. No interest on the first year of the borrowers first Unsubsidized Stafford Loan with AMS. Borrower must provide proof of graduation in order to qualify for interest rate reductions. Additional 0.50% interest rate reduction after 36 on time payments. Borrowers must sign up for Manage Your Loans to qualify.
For loans guaranteed on/after 02/01/08:
0.40% interest rate reduction for making payments using auto-debit. |
Sallie Mae Education Trust (802218)
APPLY NOW
|
Fees: None for loans guaranteed before 5/2. 1.5% origination fee on/after 5/2.
For loans guaranteed before 02/01/08:
1% interest rate reduction after first payment on-time. Borrower must sign up for Manage Your Loans to qualify. 0.25% interest rate reduction for auto-debit.
For loans guaranteed on/after 02/01/08:
5% loan credit of each scheduled monthly payment amount for the first 18 payments made as initially scheduled. Borrower’s ability to earn the benefit in each of the first 18 months is not impacted by any late payments made in other months during that period. For example: If payments 1 and 5 are late but all other payments are on time, 5% credit will be applied for each of the on-time payments. To qualify, the borrower must complete an on-line credit education tutorial, provide proof of graduation and sign up to receive account information by e-mail prior to repayment. The credits will be applied to the borrower’s Sallie Mae loan account after he/she makes the 18th scheduled payment to Sallie Mae and the loan is in a non-delinquent or non-default status. |
Sun Trust
(820564)
APPLY NOW
|
Fees: None for loans guaranteed/first disbursed by 01/01/08. 1.5% origination fee and 1% loan default fee for loans guaranteed/first disbursed after 01/01/08.
For loans guaranteed before 02/01/08: 0.50% loan credit after making the first 24 payments as initially scheduled. Borrower must sign up for Manage Your Loans to qualify. 1.25% interest rate reduction for auto-debit payments.
For loans guaranteed on/after 02/01/08: 1.50% loan credit after making the first 12 payments as initially scheduled. Borrower must sign up for Manage Your Loans to qualify. 0.30% interest rate reduction for auto-debit payments.
|
Wachovia Education Finance
(811323)
APPLY NOW |
Fees: None.
For loans with 1st disbursement prior to 01/01/08: Receive three rebates up to 3.50% of the original loan amount. To qualify, borrowers must make consecutive, on time payments using auto debit from their bank account. Borrowers can receive an immediate 1.00% rebate at the start of repayment, another 1.00% after the first 12 payments and additional 1.5% after the first 24 payments. Triple Payback rebates are automatically credited to the outstanding loan balance. Alternatively, the borrower may request cash rebates totaling up to 3.5% of your original loan amount.
For loans with 1st disbursement on/after 01/08/08: No back-end incentives are offered.
|
Chase Education Finance
(811925)
APPLY NOW |
Fees: No origination fees. 1% default fee.
Borrowers qualify for 5.0% loan credit or cash back after 33 on-time monthly payments, based on the original principal balance of the loan. Borrowers are required to enroll in Manage Your Loans in order to qualify for these benefits. No repayment incentives are available for loans guaranteed on/after 02/01/08.
|
You May Contact Sallie Mae by |
MAIL: |
PHONE : 888-272-5543 |
|
Sallie Mae Loan Servicing Center |
FAX :
800-848-1949 |
|
P. O. Box 147020 |
|
|
Gainesville , FL 32614-7020 |
|
Sallie Mae will service your loans during repayment
for all of the lenders listed in this guide. Of the
lenders listed, CHELA Education Financing and ALL
Student Loan Corp. retain ownership of the loans
while in repayment while other lenders sell the
loans to Sallie Mae. The repayment benefits listed
above will remain in effect when your loan is in
repayment regardless of the sale and/or servicing
arrangement between the lender and Sallie Mae.
Borrower benefits are subject to change without prior
notice, per lender’s discretion.
You can access your loan information,
complete and e-sign promissory notes and get
additional information at
https://opennet.salliemae.com.
If you have any questions about the
Stafford Loan or UCLA's application process, please
contact the Financial Aid Office at 310-206-0400 or
at finaid@saonet.ucla.edu.
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