What does a guaranty agency do?
Guaranty agencies administer the federal guaranteed loan program. They are either state or private nonprofit agencies. They are responsible for insuring federal student loans against default. In the case of default, they pay off lenders and try to collect from borrowers. Tell me more about Stafford Loan. Stafford Loans Terms and Conditions Tell me more about Perkins loans. Perkins Loans Terms and Conditions Tell me more about HEAL loans.
Related Questions
- Is NT4CM replacing the training my state guaranty agency (or ASFAA, or higher education agency) already provides?
- What are the responsibilities of a guaranty agency for loans sold under the Loan Purchase Commitment Program?
- What role does a guaranty agency/Direct Loan servicer have in an uncorrected data adjustment?
