Choosing A Lender

SUNY Oneonta does not endorse any specific lenders. There are hundreds of lenders to choose from and the ultimate decision is yours. The College will certify all valid loan applications for any loan program in a timely manner and you will suffer no penalty for selecting any lender.  SUNY Oneonta receives no benefit from any lender.

Please be aware that some lenders do not participate fully in electronic processing that interfaces with our processing environment. We will make every effort to process every loan application  as efficiently and accurately as possible, however, processing loans through a manual channel is slower and can be more problematic.

You should consider three areas when evaluating a lender;   Borrower Benefits, Customer Service, and Operational Standards.

Your lender should meet the following requirements:

Lenders must have competitive rates and repayment benefits must mirror industry standards.  “Value” isn’t always just about price and may mean different combinations of discounts, benefits and service for individual borrowers. Remember, your relationship with the lender of your choice will last for many years to come.

Customer Service and Operational Standards:

I It is essential that a lender participate in both Federal Stafford and Federal PLUS loan programs, possess state of the art operations including 24/7 access to loan information online and/or 24/7 toll free call center access with knowledgeable representatives.  Lenders should fully interface electronically with industry partners (EFT, eMPN, PLUS credit checks, ELM) and demonstrate timely and responsive processing with excellent problem resolution service.