Lender Selection at UTC
Lenders for the Family Federal Education Loan Programs (FFELP) at UTC are chosen by an external committee's thorough review and scoring of all lenders that have made contact with the UTC Financial Aid Office and/or lenders that students have selected within the past academic year. The list is then narrowed to make the selection process easier for the student and/or parent. Please note that UTC encourages students to make an informed decision concerning their lender, and that UTC will process loans with any lender that the student selects.
The comprehensive review includes, but is not limited to, the following:
- Origination and Default Fees
- Repayment benefits
- Timespan from certification to disbursement
- Existence of a dedicated customer service representative
- Speed of requested changes by the lender's servicer
- Student popularity
- Lowest Possible Upfront Fees*
- Lowest Possible Interest Rate*
- Whether loans are sold to another entity, resulting in a change to borrower benefits
*As noted by the Greentree Gazette
If you have questions regarding this review and its results, please contact the Financial Aid Office. Please note that UTC encourages students to make an informed decision concerning their lender, and that UTC will process loans with any lender that the student selects.
