2008-2009 UCLA's
Electronic Stafford Lenders
In order to facilitate the application process for our borrowers and to allow for electronic disbursement of funds, UCLA has set up an electronic process with various partners listed below. Listing of the lenders on the eFAN and our electronic lender list is not a guarantee of their benefits or an endorsement of their services.
You do not have to borrow from one of the electronic lenders listed. If you prefer to borrow from a lender with which we do not work with electronically, please contact them directly to complete your loan application. If you are interested in reviewing a list of non-electronic lenders selected by UCLA borrowers in the past, please click here. Please note that we will not be able to disburse funds electronically for lenders that do not participate in UCLA’s electronic process.
We recommend that you read the Federal Stafford Loan Guide for additional information about Stafford Loan application process, loan terms and conditions.
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 the loan, click on ‘Apply Now’ link for the lender you select below. Please accept the loan on your eFAN before completing the loan application process. If you are viewing this list from a link on your eFAN, you will be presented with an MPN link on the eFAN Thank You page once you have submitted your financial aid decisions.
CHOOSING A LENDER |
NOTE: Interest rate is fixed at 6% for Undergraduate Subsidized Stafford loans and 6.8% for all Unsubsidized Stafford and for graduate & professional Subsidized Stafford. Loan fees, if applicable (see below), are deducted from each disbursement.
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AMS
(833067)
APPLY NOW |
Fees: 1% origination fee.
Loans Guaranteed before 06/09/08: 0.40% interest rate reduction for making payments using auto-debit.
On/after 06/09/08: 0.25% interest rate reduction for making payments using auto-debit.
Loans are originated via OpenNet by Sallie Mae, guaranteed by EdFund and serviced by Sallie Mae.
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CHELA Education Financing (833953)
APPLY NOW |
Fees: 1% origination fee + 1% default fee.
Loans Guaranteed before 07/01/08: 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.
On/after 07/01/08: 0.25% interest rate reduction for making payments using auto-debit.
Loans are originated via OpenNet by Sallie Mae, guaranteed by EdFund and serviced by NelNet.
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Citibank
(826878)
APPLY NOW
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Fees: 1% origination fee.
Default Fee: 1% for loans guaranteed by USAF on/after 06/30/08.
0% default fee for loans guaranteed by EdFund (after 01/14/09).
Loans Disbursed before 10/17/08: 0.50% automatic interest rate reduction at repayment. If lost, 0.50% interest reduction is reinstated when a delinquent borrower makes 24 consecutive, on-time payments. 0.25% interest rate reduction for auto-debit if borrower agrees to only receive statements electronically. Zero payments the last 6 months when minimum aggregate balance at repayment is at least $4500 and payments have been made on time.
Loans Disbursed on/after 10/17/08: 0.25% interest rate reduction for making payments using auto-debit.
Prior to 1/14/09: Loans originated via OpenNet by Sallie Mae, guaranteed by USAF and serviced by Citibank. After 1/14/09: Loans originated by Citibank, guaranteed by EdFund and serviced by Citibank.
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Dollar Bank
(822583)
APPLY NOW
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Fees: 1% origination fee + 1% default fee.
Loans Guaranteed before 06/09/08: 0.30% automatic interest rate reduction for making payments using auto-debit.
On/after 06/09/08: 0.25% interest rate reduction for making payments using auto-debit.
Loans are originated via OpenNet by Sallie Mae, guaranteed by EdFund and serviced by Sallie Mae.
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Key Bank
(813760)
APPLY NOW |
Fees: 1% origination fee + 1% default fee.
0.25% interest rate reduction for making payments using auto-debit.
Loans are originated via OpenNet by Sallie Mae, guaranteed by USAF and serviced by Great Lakes.
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Nellie Mae
(829076)
APPLY NOW
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Fees: 1% origination fee.
Loans Guaranteed before 06/09/08: 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.
On/after 06/09/08: 0.25% interest rate reduction for making payments using auto-debit.
Loans are originated via OpenNet by Sallie Mae, guaranteed by EdFund and serviced by Sallie Mae.
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Sallie Mae Education Trust
(802218)
APPLY NOW
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Fees: 1% origination fee.
Loans Guaranteed before 06/09/08: 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.
On/after 06/09/08: 0.25% interest rate reduction for making payments using auto-debit.
Loans are originated via OpenNet by Sallie Mae, guaranteed by EdFund and serviced by Sallie Mae.
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Wachovia Education Finance
(811323)
APPLY NOW
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Fees: 0% for loans disbursed before 7/1/08; 1% origination fee on/after 7/1/08.
No repayment incentives are available at this time.
Loans are originated via OpenNet by Sallie Mae, guaranteed by EdFund and serviced by Sallie Mae.
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Wells Fargo Bank
(807176)
APPLY NOW
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Fees: 1.0% origination fee + 1% default fee (on/after 06/30/08).
No repayment incentives are available at this time.
Loans are originated via OpenNet by Sallie Mae, guaranteed by USAF and serviced by Wells Fargo.
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In addition to fee and benefits information for each of the lenders listed above, you will also find information on:
- Who will originate your loan – the originator processes your application, collects your promissory note and disburses your loan funds on behalf of the lender. This is who you will contact if you have any questions about your loan application or disbursement.
- Who will guarantee your loan – the guarantor provides the lenders with federal guarantee services for the loan you borrow. If your loan becomes delinquent, the guarantor will work with you and the lender to bring the loan back to current status. Should your loan go into default, the guarantor will assume your loan and begin collection activities.
- Who will service your loan – the servicer will manage your loan during repayment by providing you with periodic disclosure statements and billing statements once your loan enters repayment. This is who you will contact if you have any questions about your loan balances owed, start of repayment, deferment and forbearance information, and payment information.
You May Contact Sallie Mae by |
MAIL: |
PHONE : 888-272-5543 |
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Sallie Mae Loan Servicing Center |
FAX :
800-848-1949 |
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P. O. Box 147020 |
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Gainesville , FL 32614-7020 |
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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 are an undergraduate or a graduate student and have any questions about your loan or UCLA’s application process, please contact the Main Campus Financial Aid Office at: 310-206-0400 or finaid@saonet.ucla.edu
Professional students, please contact your financial aid office directly:
| School of Law |
310-825-2260 |
| School of Medicine |
310-825-4181 |
| School of Nursing |
310-825-2583> |
| School of Dentistry |
contact Frank Doucette at Financial_Aid@dentistry.ucla.edu |
| Anderson School of Management |
310-825-0629 |
| FEMBA/EMBA |
310-206-4141 |
| University Extension |
310-206-7864 |
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