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Has this happened to anyone else?

Discussion in 'Financial Aid' started by TerpMD, May 17, 2008.

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  1. TerpMD

    TerpMD
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    So I just got an email from my school saying that they are no longer participating in FFEL and that we have to find a new lender by June 1st in order to ensure our loans are dispersed on time. I know there are a lot of posts about lenders on here, but is there anyway that I can compare them on a website without having to call everyone?

    I've emailed my school as well but I thought I'd see if anyone else is having the same sort of issue. I don't want to delay my loan money but I also don't want to make this decision without any good info.... And of course this has to happen right before boards.....:(
     
    #1 TerpMD, May 17, 2008
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  2. 87138

    87138 Guest

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    Are you currently borrowing directly from the University of Maryland? I don't really know how it all works, but I'll be an M1 at Maryland in August and I know I ended up choosing PNC bank for my lender since they financed my undergrad loans . . . I assume I shouldn't have to change it? I'm guessing what you're talking about applies to people who borrow directly from the school or something?

    Sorry I don't have the answers to your questions, only more questions of my own. By the way, how do you like Maryland so far?
     
    #2 87138, May 20, 2008
  3. TMP-SMX

    TMP-SMX Senior Member
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    Wait. So no FFEL? Does that mean you will be getting direct loans? If that's the case then there is no decision making. Your lender is the Federal Government.
     
    #3 TMP-SMX, May 21, 2008
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