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The vast majority of financial assistance at Clark is offered on the basis of financial need. We're committed to making a Clark education affordable to students admitted to the University, and we work with you and your family to thoroughly explore your options. |
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Financing Options
At Clark University, we believe that selecting a lender is all about choice.
However, many of our families ask us for guidance about the types of financing
options available and suggestions for which lenders to consider when selecting a
lender.
Each year Clark University follows a formal review process which involves
requesting information from lenders on a variety of criteria, such as lender
stability, interest rates, borrower benefits, and customer service. Based on
lender responses, we determine which lenders will offer competitive interest
rates, favorable borrower benefits, and have the ability to provide our families
with excellent customer service. In order to monitor these criteria, along with
lender stability, we continue to assess lender performance throughout the year
and encourage our families to provide us with feedback regarding their
experiences with any lender.
For the 2008-2009 year, Clark University has been assured by the following
lenders of their continued participation in the Federal Family Education Loan
Programs (Stafford and PLUS), private educational loan programs, and offerings
of competitive interest rates and borrower benefits for our student and parent
borrowers:
Chase Education Finance
Citizens Bank Graduate
Student PLUS Loans
Citizens Bank Stafford
Loans
Wachovia
By selecting the Suggested Lenders link below, you will be able to view some
basic information on the financing options offered by each of these lenders. We
suggest that you contact these lenders, or any others that you wish to research,
to learn more about the options they offer and the benefits associated with each
program to determine which best fits your own objectives. Once again, we remind
you that selecting a lender is your choice. The Office of Financial Assistance
at Clark University will process a loan application from any lender and will
continue to be of assistance to you no matter which lender you select. American
Student Assistance (ASA) is the Loan Guaranty Agency with which Clark
University works. Therefore, if students and parents have another preference for
a Guaranty Agency you will need to notify the office regarding your preference.
Please Note: Some lenders have made the decision not to process
educational loans for students or parents at particular schools for the
2008-2009 year. Currently, the following lender(s) have notified Clark
that they will not process loans for students or parents due to low loan volume
in the past:
Citibank
You will not be able to use Citibank as your lender while attending Clark
University.
2008-2009 Suggested Lender
Contact Information
Questions you may wish to ask as you do your research:
- What, if any, up front benefits do you offer for your student, parent,
and private educational loan programs?
- Are there fees associated with any of your loan programs? If so, what
are they?
- Are there any interest rate deductions offered to the borrower once
repayment begins?
- What are the requirements to obtain these benefits? Once obtained, can
these benefits be lost? Can they be regained?
- What is your definition of a late payment?
- What is the interest rate on your Private Educational Loan program? If
not a fixed rate, is there a cap on the rate?
- Is there a co-signer requirement for you Private Educational Loan
program?
- Who is the servicer for your loan programs?
- Do you sell any of your loans?
- How do I apply?
Additional Tool for Financial Planning
Borrow Smart at www.afford.com/borrowsmart - an interactive tool demonstrating a combination
strategy for financing your educational expenses at Clark
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Additional Resources
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Helpful Websites:
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