Recommended Lender List Selection Process

The student loan industry, like so many other industries, has experienced a difficult and challenging year. The economy took its toll on several lending institutions causing delays in loan disbursements or lenders announcing they were no longer able to participate in the Federal Student loan program. Maryville College, in an effort to help students and parents, is continuing to offer Lender Lists to assist our students in locating Federal Student Stafford and Parent Plus Loan lenders

Our Lender Lists consists of lenders who are committed to serving the educational needs of America’s students by continuing to offer Federal educational loans and provide outstanding customer service to both the student and Maryville College.

In January 2009, the Maryville College extended a Request for Information (RFI) to eleven local, regional and national lenders via an electronic process. The Maryville College RFI consisted of weighted questions regarding loan benefits, lender electronic processes, loan servicing in repayment, default prevention services, average default rates of loans and most importantly, average customer service response times. A deadline for responding to the RFI was set for February 10, 2010. The RFI information submitted by all lenders was reviewed, the answers were electronically scored and five lenders were selected.

Maryville College Lender Lists are only a guide for assisting students and parents in obtaining a student loan. Maryville College does not require students or parents to use any of the lenders on the Lender Lists. Students and Parents are free to use any student loan lending agency or bank of their choice. Maryville College uses ELM Loan Processing service to process all loans regardless of lender.

Maryville College has no other contracts, obligations, agreements or programs with any of the lenders on the Lender List.