Does Stanford receive preferred-lender status from any banks?
We’re very fortunate because we have such a low default rate that several private lenders give us preferred rates. We list all those lenders — including MBA LOANS and CitiAssist — in our financial aid handbook that we send out to each of our financial aid recipients.Included are phone numbers for students to call to see what the particular rates are because the Web sites don’t list them. Our primary loan, however, comes from a recently formed partnership [during the school’s 1999 spring quarter] with First Marblehead and Bank of America named the Gate Loan. Essentially, as I mentioned earlier, it allows our international students to borrow without cosigners. We’re very excited about that because that effectively makes all of our international students eligible for a loan. Even though they have to get a credit check — the credit check has very minimal restrictions — to date, not one of our international students has been denied a loan. The rates are low, there are no fees associated
Related Questions
- Stanford tiers the aid amounts given to students based on their marital or family status. How are you able to determine how to tier aid for students with families?
- What are the details relating to the loan covenant breach and the status of the discussion with the banks regarding the same?
- Does Stanford receive preferred-lender status from any banks?
