Lender List
Students and parents must select a lender to use when applying for the Federal Stafford Loan and the Federal PLUS Loan, respectively. The Student Loan Office must have the lender code to process the loan with the guarantor and lender/servicer. Students, who have not previously submitted their lender's (lender) code, must enter the lender code on the Award Letter. Parents must select a lender when they complete the PLUS Pre-Approval process.
The Student Loan Office has established a list of lenders that have shown a commitment to participate in the federal loan programs with Mississippi State University students and parents. These lenders provide competitive products and services and they participate in electronic processing through ELM.
Mississippi State University exclusively uses Electronic Loan Management (ELM) and the National Disbursement Network (NDN) to electronically process loans with all of the lenders listed below. ELM and the NDN are educational loan processing and disbursement delivery systems, respectively. The ELM/NDN systems enable participants to provide fast and secure delivery of loan information and loan funds.
In addition to participating in ELM/NDN, the lenders on our list provide products and services that can benefit our students. These lenders offer lower up front processing fees and/or differing repayment options, including interest rate and principal reduction options. We encourage students and parents to compare products and services provided by the lenders.
Students and parents may use the lender of their choice. We encourage students and parents to consider selecting a lender from this list so MSU and the lender can better serve students when processing their loan.
Please know that each lender listed below on our lender list is not affiliated with any other lender on this list.
Stafford Lenders
• View lender list• Compare Lender Fees and Benefits
PLUS (Parent) Lenders
• View lender list• Compare Lender Fees and Benefits
Graduate PLUS Lenders
• View lender list• Compare Lender Fees and Benefits
| Graduate (PLUS) Lenders | |||||
| Name | Default Fee (Percentage) | Origination Fee (Percentage) | Repayment Benefits and Incentives |
Other Benefits and Incentives | |
|
Chase 800-487-4404 App Phone 800-487-4404 |
1 | 3 | 0.25% interest rate reduction for borrowers who enroll in an auto-debit ACH repayment program. | Life of loan servicing. | |
|
Citibank 800-967-2400 App Phone 800-967-2400 |
0.5 | 3 | Receive a .25% interest rate reduction when you enroll in our auto-debit payment program. | Life of loan ownership. Life of loan servicing. | |
|
Citizens Bank of Philadelphia (Ms) 877-349-4347 App Phone 877-349-4347 |
1 | 3 | None | ||
|
Discover Student Loans 1-877-728-3030 App Phone 1-877-728-3030 |
1 | 3 | 8.25% fixed interest rate. 0.25% repayment interest rate reduction when payments are set up for auto debit. | ||
|
Education Services Foundation 800-986-4322 App Phone 800-986-4322 |
.5 | 3 | None | ||
|
First Tennessee National Bank 866-386-5641 App Phone 866-386-5641 |
0 | 3 | None | Life of loan servicing | |
|
Hancock Bank 877-349-4347 App Phone 877-349-4347 |
.5 | 3 | None | ||
|
Merchants and Farmers 877-349-4347 App Phone 877-349-4347 |
.5 | 3 | None | ||
|
Regions Bank 800-858-7822 App Phone 888-272-5543 |
0 | 3 | 0.25 percentage point interest rate reduction for auto-debit. | Life of loan servicing. | |
|
Sallie Mae Education Trust 1-800-891-1413 App Phone 1-800-891-1408 |
1 | 3 | 0.25 interst rate reduction for automatic debit during active periods of repayment | Life of loan ownership. Life of loan servicing. | |
|
The Student Loan People 1-822-928-8926 App Phone 1-822-928-8926 |
1 | 3 | 0.25% interest rate reduction for ACH payments. | ||
|
Wachovia 800-338-2243 App Phone 1-800-338-2243 |
0 | 3 | 0.25% interest rate reduction for auto-debit payments. | ||
