Suggested Lender List

Lender Name/Address Phone/Website Stafford Loan Borrower Benefits
BancFirst
P.O. Box 1608
Shawnee, OK 74802

Lender Code: 820238

 1-800-940-9404 www.bancfirst.com
  • · 1.5% interest rate reduction after 12 on-time payments
  • · 1% principal reduction if first three payments made on-time.
  • · 1% interest rate reduction for auto-debit payments
  • · No origination fee, no default fee
Bank of America
P.O. Box 18145
Oklahoma City, OK 73154

Lender Code: 807674

 1-800-456-6752 www.osla.org
  • · 1.5% interest rate reduction after 12 on-time payments
  • · 1% principal reduction if first three payments made on-time.
  • · 1% interest rate reduction for auto-debit payments
  • · No origination fee, no default fee
Chase
P.O. Box 18145
Oklahoma City, OK 73154

Lender Code: 828352

 1-800-456-6752 www.osla.org
  • · 1.5% interest rate reduction after 12 on-time payments
  • · 1% principal reduction if first three payments on time
  • · 1% interest rate reduction for auto-debit payments
  • · No origination fee, no default fee

Citibank
P.O. Box 6128
Sioux Falls, SD 57117

Lender Code: 826878

1-800-846-1290 www.faaonline.com

· 1% interest rate reduction after 36 consecutive on-time monthly payments
· An additional 1% interest rate reduction after 48 consecutive on-time monthly payments
· .25% interest rate reduction for auto-debit payments
· No origination fee, no default fee
Midfirst
P.O. Box 18145
Oklahoma City, OK 73154

Lender Code: 816976

 1-800-456-6752 www.osla.org
  • · 1.5% interest rate reduction after 12 on-time payments
  • · 1% principal reduction if first three payments on-time
  • · 1% interest rate reduction for auto-debit payments
  • · No origination fee, no default fee
Sallie Mae Education Trust
P.O. Box 59012
Panama City, FL 32412

Lender Code: 802218

 1-888-272-5543 www.salliemaeedtrust.com
  • · Earn account credits -4% of each of the first 12 payments with a Upromise account and an additional 1% on the loan after the first 24 payments are made as initially scheduled
  • · Sign up for Upromise and accumulate cash rewards through everyday purchases made from Upromise partners
  • · .5% interest rate reduction for auto-debit
  • · No origination fee, no default fee
Stillwater National Bank
P.O. Box 59012
Panama City, FL 32412

Lender Code: 809081

 1-800-678-4723 www.banksnb.com
  • · 3.3% Sallie Mae Cash Back credit or check of the original principal balance for the initial 33 on-time scheduled payments.
  • · No origination fee, no default fee
  • · Reduce loan debt with UPromise. Learn details at www.banksnb.com/studentloans

Borrower benefits programs described herein are based on information available at the time of publication. Borrowers are strongly advised to contact each lender to determine the exact terms, conditions, and availability of individual incentive programs.

Stafford Loan Facts

Choosing a Lender

Northeastern State Univesity has provided you with a list of lenders who have a history of providing exceptional service and benefits to NSU students. This list is proivded as a service to assist you in selecting your lender; however, you are free to choose from any participating lender who may not be included on this list.

Interest Rate

For new Stafford loans disbursed on or after July 1, 2006, the interest rate is a fixed rate of 6.8%.

Fees

A 1% Federal Default Fee and up to a 2% Origination Fee may be deducted from your loan proceeds. However, many lenders now offer zero fee loan options to borrowers and no fees are deducted.

Amount You May Borrow

The amount you are able to receive in Stafford loan funding is determined by a number of factors. Your grade level in school will affect the amount you receive. As you progress in academic standing, you are allowed to borrow more. Additionally, your financial need and other financial aid you receive will determine the amount you may borrow. Consult your award letter or the financial aid office for additional information.

Repayment Information

You are required to begin repayment of your Stafford loan six months after you graduate or six months after your last date of at least half-time enrollment. While you are in school, you are not required to make any payments on your loan. If you receive a subsidized Stafford loan, you will not have any interest accrue while you are in school. However, if you receive an unsubsidized Stafford loan, interest will begin to accrue following the date of disbursement. You may choose to make interest payments on your unsubsidized Stafford loan while you are in school. This will help reduce the amount you will repay when you get out of school.

First-Time Borrowers

If you are a first-time borrower at NSU, you must complete an online loan entrance counseling session prior to your first student loan disbursement. You may access this counseling session through www.nsuok.edu/finaid. Choose "Complete Loan Process - Stafford Loan" and then select "Begin Entrance Counseling."

NSU Student Financial Services

The office of Student Financial Services is located on campus between Seminary Hall and the John Vaughn Library in a red brick building. We are open Monday - Friday, 8 a.m. to 5 p.m.




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