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Lender List Disclosure Policy

Fayetteville State University uses the Federal Family Education Loan Program (FFELP) sponsored by the United States Department of Education.  FSU is prohibited from selecting a lender or recommending a specific lender for you to choose.  However, we can share with you a list of lenders for which have a proven track record of providing the best loan benefits to students coupled with default management practices and best customer services to students, parents and schools.

Fayetteville State University uses the following lenders:

  • Discover  
  • College Foundation of North Carolina
  • Sallie Mae

Below are the guidelines used in determining the suggested lenders for Fayetteville State University:

  • Lender experience and reputation: Is the lender a well-known, reputable company?
  • Best Value and Benefits to Borrowers that produce the lowest cost loans: Does the lender offer to pay fees on the student’s behalf? Does the lender offer interest rate reductions and rebates at repayment? How easy is it for borrowers to earn and keep rate reductions and rebates?
  • Excellent Customer Service and Customer Satisfaction:  Does the lender recommend that students maximize one’s use of free aid and federal loans before taking a private loan? How convenient are the lender’s call center hours? Are the lender’s customer service representatives experienced, friendly and knowledgeable?
  • Flexible Repayment Options:  Does the lender offer combined billing of their federal and private loans? Does the lender offer Default Prevention Strategies and Debt Management Services?
  • Portfolio of Educational Tools:  Does the lender offer value added tools such as college savings plans, tuition payment plans, supplemental loan products, loan repayment solutions and dedicated customer service?
  • Technology Investments:  Can students and parents apply for loans online at any time?  Can borrowers access and manage their account online 24/7?  Does the lender offer support for technology and online services?
  • Seamless Loan Delivery:   Does the lender support the streamlined loan process currently underway in the Office of Financial Aid to deliver loan processing in real time?

Fayetteville State University’s decision regarding which lenders to include on our suggested lender list is coordinated by a committee consisting of the Director of Financial Aid, Senior Associate Director of Academic Affairs, Bursar, faculty member and Student Government Association President.  In addition to the above requirements, the most important factor is reviewing lenders who can provide the lowest cost loans that can be provided for student and parents.  Also considered are available scholarships, financial literacy programs and on line entrance and exit counseling services.

Additional comments: Although Fayetteville State University has chosen a set of suggested lenders, we make it clear to students and families that we will process loan applications from ANY LENDER OF CHOICE.