UW-La Crosse 2007-08
Preferred Lender List
The lenders on UW-La Crosse's Preferred Lender List have been chosen because of superior customer service and outstanding savings for our students. However, you may choose any lender.
What to consider when
choosing a lender
1. All Federal education loans have the same interest
rate BUT some lenders offer prompt payment discounts that can reduce the
cost of the loan.
2. These repayment incentives, also known as borrower benefits, can
include interest rate reductions, full or partial origination fee
rebates, and principal balance reductions.
3. Some of the cost savings are immediate while others require the
student to make the first 12, 24, 36, or 48 monthly payments on time and
continue making the payments on time. Some require that you actually
graduate in order to receive the benefit.
4. It is important to realize that if you are LATE on a single
monthly loan payment you will no longer qualify for the prompt payment
discounts.
5. Many lenders offer incentives for using automatic direct
debit of monthly payments.
UW-L's
2007-08 Preferred Lender List
Information about each lender and the
benefits they offer is available below.
AnchorBank
Wachovia
U.S. Bank
Linda Brumm
(800) 242-1200 ext. 5438
(920) 484-3505
www.usbank.com/studentloans
* 0% Origination Fee
* 5% credit after 36 consecutive monthly on-time payments
* .25% interest rate reduction for auto-debit
Associated Bank
(830492)
April Sullivan
(800) 789-6765
(608) 796-4524
www.associatedbank.com
* 0% Origination Fee
* 2% interest rate reduction for 48 consecutive on-time
payments
* .25% interest rate reduction for auto-debit
Wells Fargo
(807176)
Ben Osmond
(800) 658-3567
(866) 239-1634
www.wellsfargo.com/student
*0% Origination Fee
Citibank (824756)
David Wiegmann
(800) 967-2400
(888) 867-5968
www.studentloan.com
* .25% interest rate reduction for automatic payments
M & I
Bank (811949)
Tom Mrozinski
(800) 236-4440
www.mibank.com/studentloans
* 1.5% Origination Fee
* Waive last 5 payments
* Waive additional 2 payments if signed up for ACH
To qualify for these benefits the borrower must:
- Provide a valid e-mail address within 90 days for
first disbursement
- Keep e-mail address valid through the life of the loan
- Receive e-newsletters
- Manage account online at Nelnet.com with e-correspondence
within 90 days of first disbursement
- Complete Nelnet's exit counseling prior to entering
repayment
- No late payments past 3 day grace period
- If prepayments are made in the amount equal to three times
the single minimum monthly payment amount or more, you will not qualify
for the borrower benefits.
- Sign up for CheckFree, Great Lakes' auto-debit payment
program, within 90 days after the loan enters repayment status and
remain enrolled for the life of the loan in order to have the additional
two payments waived.
EdAmerica (834060)
Jo Woodward
(715) 531-0276
(800) 337-6884
(651) 485-3261
(cell)
www.edamerica.net
* 0% Origination Fee
* .25% interest rate reduction for auto-debit
AnchorBank (823011)
Bill Venne
(800) 236-8769
(608) 252-8769
www.anchorbank.com
* 0% Origination Fee
* 2% interest rate reduction after 48 consecutive on-time payments
* .25% interest rate reduction for auto-debit
Wachovia (870005)
Tom Hansen
(877) 689-0763
(651) 739-7996
www.wachovia.com/education
* 0% Origination Fee
* 1% principal rebate immediately at repayment
* 1% principal rebate after first 12 on-time payments
* Additional 1.5% principal rebate after 24 on-time payments
Methodology used in determining UW-La Crosse's Preferred Lender List
The UW-La Crosse Financial Aid Office does not and never has received favors or benefits from lenders in exchange for putting those lenders on our Preferred Lender List.
