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Has this happened to anyone else?

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

  1. TerpMD

    TerpMD 2+ Year Member

    Sep 26, 2007
    UMD 2010
    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.....:(
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  3. 87138

    87138 Guest

    Jan 14, 2006

    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?
  4. TMP-SMX

    TMP-SMX Senior Member Moderator Emeritus 10+ Year Member

    Jun 12, 2006
    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.

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