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Does the parent borrower have a choice of lenders?

April 26, 2017borrower lenders parent

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Does the parent borrower have a choice of lenders?

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Each state has the potential for two lenders. The parent PLUS loan borrower will be able to choose from one of the two lenders that win the bids. For states that do not have two lenders that bid, the U.S. Department of Education will choose a lender of last resort. In these states, parent PLUS borrowers would be limited to the lender of last resort.