Luther Seminary Federal Loan Lender List
Luther Seminary does not recommend a specific lender, however we
have compiled the following list of lenders with whom we have good
working relationships and who have provided our students with a high
level of service. While we don't recommend a specific lender
we would recommend that you choose a zero fee lender. On a
Stafford Loan of $8500 you would save $170 using a zero fee lender
versus a lender with a 2% fee. Lenders are required to charge
this fee, however, some lenders choose to pay this fee on your
behalf. For a complete description of the Federal Stafford
Loan program please
<click here>.
To complete a master promissory note follow the link below to
choose a lender. Once there you will see an option to "Apply
Now". You will be taken to another site where you can complete
the master promissory note online. If you have your federal
application (FAFSA) PIN you will be able to "sign" your note
electronically. If you are choosing a new or different lender
than one you have used in the past at Luther you must complete a new
promissory note for that lender. If your previous lender is
not on the list please contact the Office of Financial Aid for
guidance at
finaid@luthersem.edu.
---
Follow this link for our Federal Stafford Loan lender list* ---
*
When you get to our lender list you will be asked to provide your
name. There will also be a page of additional consumer
information prior to viewing our lender list. These changes
were enacted in response to recent legislation concerning
educational loan issues.
The lender list below is for Grad PLUS loans
only - not Stafford.
Luther Seminary does not recommend a specific lender, however we
have compiled the following list of lenders with whom we have good
working relationships. When choosing a lender for the Federal
Grad PLUS loan please know that if you should later include the Grad
PLUS in a federal consolidation loan you will give up the specific
repayment incentives. If you need to borrow from this program
it is very likely that you will need to consolidate your federal
loans after leaving Luther Seminary. For this reason it might
be in your best interest to stay with the same lender as your
Federal Stafford Loans. For a complete description of the GRAD Plus
program
<click here>. Please be aware that the Federal Grad PLUS
Loan is a fixed rate 8.5% unsubsidized loan. Interest will
accrue during your in-school and deferment periods.
To complete a master promissory note follow the link below to
choose a lender. You will be taken to another site where you
can complete the master promissory note online. If you have
your federal application (FAFSA) PIN you will be able to "sign" your
note electronically. If you are choosing a new or different
lender than one you have used in the past at Luther you must
complete a new promissory note for that lender. Please note that
we have attempted to compile the most current repayment incentives
for each lender. Because of the competitive environment these
frequently change. Please check directly with your lender to
verify the most current information.
---
Follow this link for our Federal Grad PLUS Loan lender list*
---
*
When you get to our lender list you will be asked to provide your
name. There will also be a page of additional consumer
information prior to viewing our lender list. These changes
were enacted in response to recent legislation concerning
educational loan issues.
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