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Alternative
Loan Lender List |
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Alternative Loans are private loans
issued by lenders to students with good credit histories or
to those with co-signers who have good credit histories.
Terms and conditions vary with each program. Before
applying, compare the programs to see which is most
advantageous for you based upon your circumstances. Some of
these private loans are available to students who are not
matriculated (in a degree program) and to international
students (with an eligible co-signer). Please note
when you are researching for a lender that if you are
non-degree and/or part-time, not all lenders will make a
private loan available to you |
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Choosing a Lender:
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We know that researching and choosing a bank can be a
daunting task. As a service we have provided a list of
lenders based on our review of customer service, borrower
benefits and convenience for our students. However, you are
free to use any lender and FIT will certify your loan
without penalty. FIT receives no incentive or financial
benefit from any lender including those on the lender list. |
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Annually, lenders are evaluated
based on the criteria listed below. Product, service, and
processes each play an important role in our evaluation. FIT
requests extensive and detailed information from lenders for
our review. To be included as a lender, the financial
institution must provide the following to FIT students: |
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- A competitive set of
products and rates with no hidden fees.
- Assurance that all
advertised benefits will continue for the borrower even
if the lender sells the loan to another financial
institution. (As of this printing, these lenders have
confirmed that loans processed through the lender codes
listed herein will not be sold to another unaffiliated
lending institution).
- Excellent service and toll
free customer service numbers.
- Quick response to the needs
of FIT students.
- Direct contact to lender
representatives to quickly resolve loan issues
- Full electronic transfer of
funds with FIT.
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When choosing a lender, we suggest
you inquire if they
participate in electronic processing with FIT; otherwise,
they will send a check which needs to be co-signed by the
borrower and FIT which will delay the funds disbursed to
your account. The lenders listed below currently participate
in electronic processing. |
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BORROWER BENEFITS ARE SUBJECT TO CHANGE. You should
check with the lender for the most current benefits.
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Lender List
(alphabetical order) |
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Chase
Loan name: Chase Select
Lender Code:
503000
Student Phone Number: (866) 306-0868
Loan Servicer: Chase
Web Address: www.ChaseSelectLoans.com |
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Citibank
Loan name: CitiAssist (Undergraduate & Graduate Loans)
Lender Code: 826878
Student Phone number: (800) 967-2400
Loan Servicer: Citibank
Web address: www.studentloan.com |
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Sallie Mae
Loan name: Signature
Lender Code: 900905
Student Phone number: (888) 2 - SALLIE (272 - 5543)
Loan Servicer: Sallie Mae Education Trust
Web address: www.salliemae.com/signature |
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