Stafford Loan Lending Options

The Federal Family Educational Loan program (FFEL) is guaranteed by the federal government and funds are provided by banks, savings and loan associations and credit unions. Repayment is made to the bank or private lender that made the loan.  Student borrowers have the right to select which lender they wish to use. KVCC does not endorse or recommend lenders.  The borrower, who is the consumer, has to make that decision. 

When choosing a lender a borrower should give thought to the following:

Does the lender participate with my college?

Some banks and credit unions do not participate in the Federal Stafford Loan    program and others will lend only to select schools.

Do I have a previous Stafford Loan? 

KVCC recommends, if possible, that a borrower with previous and/or outstanding student loans select the same lender for all subsequent loans.  Students with past Direct Federal Stafford Loans will need to choose a FFEL lender.

What borrower benefits does a lender offer? 

Some lenders offer benefits to the borrower, such as a reduction in the up-front fees, back-end benefits for current and on-time payment history, or interest rate reductions for automatic payments, etc.

What if I want my Credit Union to be my lender?

A Credit Union may require membership at their institution to receive a Federal Stafford loan.  If you use a credit union and you are not a member the credit union may not lend to you. 

KVCC will certify a Federal Stafford Loan and/or a Parent PLUS Loan with any FFEL eligible lender.  As a service to the borrower, KVCC provides a listing of current lenders that KVCC borrowers have used in the last three academic years.  This listing is not an endorsement nor does it cover all of the lenders in the FFEL program. The student will need to contact the individual lender to find out about its terms and conditions.  The lenders are listed alphabetically.  If your lender is not on this list you can contact the financial aid office at 269-488-4340 to speak with our loan coordinator to see if your lender participates in the FFEL program and with KVCC.