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| Unsubsidized
Stafford Request |
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Here’s what you need to do
File a FAFSA each year you anticipate requesting a Stafford loan.
Notify
the Office of Financial Aid of the amount you wish to
borrow, or complete
the following form and send it to our office. After July
1, 2007, students may borrow up to $5,500 as a
first year, $6,500 as a sophomore, and $7,500 as a junior or
senior, depending on other aid or loans the student may
already have.
Borrowing your first Stafford at Pomona College?
Complete a
Stafford Entrance Counseling session.
Notify
the Office of Financial Aid of your lender selection. Choosing a
lender is an important decision, one that will affect you
for the life of your loan. If you have no prior Federal
Stafford Loans, you may wish to consider borrowing from one of the
lenders listed below; however, you may choose any lender you
wish.
ALL Student Loan Corporation
Lender Code: 833752
Phone: (888) 271-9721
Discover
Student Loans
Lender Code: 831312
Phone: (877) 728-3030
Key Bank
Lender Code: 813760
Phone: (800) 539-5363
Each of these lenders offer a distinct set of incentives to
borrowers which may decrease the overall cost of the loan
from the rate set by Congress. We have compiled a
chart to allow you to compare the incentives offered by the
lenders listed above.
If you have previously borrowed a Federal Stafford Loan,
please remain with the same lender. This will prevent you
from making payments to multiple lenders in the future.
A Note about Lenders
In the context of recent news reports about institutional
and personal relationships between some student loan
providers and financial aid authorities at a few colleges
and universities, we would like to reassure the Pomona
College community of the following:
Pomona College does not have special business relationships
with any student loan providers and does not receive
considerations or financial reimbursements from any lenders.
All Pomona College officials are required, as part of
routine Conflict of Interest reports, to disclose any
relationships in which they or members of their immediately
families stand to benefit from decisions made in the course
of their work for the College. No such relationships have
been reported and we are confident that none exist.
Students are provided with lists of "preferred providers"
for student loans. This list is based entirely
on the quality of service that these lenders have provided
to Pomona
College students. In fact, the
college has no "preference" about the choice of lender, and
no considerations of any sort are provided in return
for inclusion on these lists. Students are free to
deal with other loan providers, and many do. The College
works with all such lenders to facilitate the financing
choices of its students.
In fact, the vast majority of loans issued to Pomona College
students come from institutional sources -- i.e., college
loan funds -- rather than outside lenders. The availability
of such funds is one example of Pomona's firm commitment to
financial assistance and access for all students. |
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