Millikin has solidified its loan processes for 2008-09.  If you are not aware, there is uncertainty in the student loan market today.  Many lenders have found it necessary to cease their participation in the Federal Stafford Loan Program.  As a result, we have solicited information from those who remain.  We have evaluated a multitude of lenders and have narrowed the list to the 5 you see listed below.  These lenders meet or exceed Millikin’s standards for customer service, electronic loan processing, default education and prevention. Each lender offers several loan types.  In addition, all of these lenders are unaffiliated, individual corporations, which we believe is further evidence they will have stability.  Stability will be the key to providing you a necessary source of funding for your academic career.  Though we believe we have provided a strong list of lenders, you are not required to select a lender from this list - listed below alphabetically.  If you already have a relationship with a bank or have already chosen one not on the list, please work closely with them to track the progress of your loan.  We will do our best to work with any lender you may have chosen.

If you are a student applying for a Federal Stafford Subsidized or Unsubsidized Loan:

1. All first time borrowers - please visit www.mappingyourfuture.org and complete your Stafford Entrance Loan Counseling.  This is a Federal requirement for all loan borrowers.

2.  To complete your Stafford Loan Application - Master Promissory Note, please click on a link from our lender list:

2008-09 Lender List

Chase

Chase offers Federal Stafford Loans, Federal PLUS Loans for parents and Alternative Educational Loans

Citibank

Citibank offers Federal Stafford Loans, Federal PLUS Loans for parents and Alternative Educational Loans

Regions Bank

Regions Bank offers Federal Stafford Loans, Federal PLUS Loans for parents and Alternative Educational Loans

Wachovia

Wachovia offers Federal Stafford Loans and Federal PLUS Loans for parents

Wachovia is NOT offering Alternative Educational Loans

Wells Fargo

Wells Fargo offers Federal Stafford Loans, Federal PLUS Loans for parents and Alternative Educational Loans

If you are a parent who is applying for a Federal PLUS loan or a student looking for an alternative loan, simply select a lender from the list above to complete your application/Master Promissory Note.  In order to process a Federal PLUS Loan, you must complete the Free Application for Federal Student Aid (FAFSA) for 2008-09.  If you have not completed the 2008-09 FAFSA please do so at www.fafsa.ed.gov.

If you have any questions or concerns, please contact Nancy Askins by e-mail: naskins@millikin.edu