TAMUG Financial Aid

"The Choice is Yours"

The choice of a lender is entirely yours and must be made before your loan(s) will be funded. You are free to choose from the list we provide or choose a different lender. In order to receive loan funds, you are required to select a lender that you want to utilize while enrolled at Texas A&M University at Galveston and complete the steps required to obtain the loan.

Texas A&M University conducts a Request for Qualification (RFQ) to determine our lender list. The RFQ was made public and invited any Federal Family Education Loan Program (FFELP) lender to submit a response to the RFQ. All lenders that submitted a response and continue to participate in the program have been placed on our list for the 2008-2009 academic year. This list is not exhaustive of all participating lenders.

Please review all loan lenders and research their policies and loan terms to decide which lender is best for you.

Two points to consider when choosing a lender:

Exceptional customer service
- Does the lender offer extended hours and the ability to get a person rather than a recording?
- Does the lender have the ability to access your loan information via a toll-free number and online?
- Does the lender offer any other services to you as a customer, such as debt counseling or college planning tools?
Savings to you the borrower
- Does the lender offer any benefits to you as a borrower for auto debit, graduation, or on-time payment?
- Interest rates are set by the federal government, but many lenders offer additional benefits, such as discounted fees or interest rate reductions.
- Most lenders offer a 0.25% interest rate reduction for auto debit, but not all. Be sure to know what you need to do to qualify for any benefit offered.

If you are unsure where to start, contact a couple of lenders and ask a few of the above questions of each one. If you need additional assistance, please contact our office.

Note: The information listed below is subject to change at any time by the lender that you choose. Please verify the information with the lender prior to making a selection.

If you are selecting a lender for a loan in the Fall 2008 - Spring 2009 award period, please refer to the following list:

Loans must be processed on Loans by Web not individual bank websites!

Lender	Orig. Fee	Default Fee	Benefits
Nelnet 877-804-3603 ID: 833669	3%	0%	Serviced by: Nelnet Sold To: Not sold .25% interest rate discount for auto debit.
Chase 800-487-4404 ID: 803000	3%	0%	Serviced by: Chase Sold To: Department of Education .25% interest rate discount for auto debit.
Compass 800-813-4372 ID: 828078	3%	0%	Serviced by: Higher Education Servicing Corporation Sold To: North Texas Higher Education Authority .25% interest rate discount for auto debit.
Wells Fargo 800-658-3567 ID: 807176	3%	0%	Serviced by: Wells Fargo Sold To: Not sold No borrower benefits.
University Federal Credit Union 800-252-8311 ID: 828148	3%	0%	Serviced by: Edfinancial Services Sold To: North Texas Higher Education Authority .25% interest rate discount for auto debit.
Key Bank 800-539-5363 ID: 813760	3%	0%	Serviced by: Great Lakes Higher Education Servicing Sold To: Not sold .25% interest rate discount for auto debit.
Wachovia 800-338-2243 ID: 830005	3%	0%	Serviced by: Wachovia/ACS Sold To: Not sold .25% interest rate discount for auto debit.
Franklin 800-949-6371 ID: 821359	3%	0%	Serviced by: Costep Sold To: South Texas Higher Education Authority or US Dept of Education .25% interest rate discount for auto debit.
Regions 800-858-7822 ID: 810612	3%	0%	Serviced by: Sallie Mae Sold To: Not sold .25% interest rate discount for auto debit.
Brazos 888-617-7349 ID: 833285	3%	0%	Serviced by: ACS Sold To: Not sold No borrower benefits
First National Bank-Texas 877-768-0001 ID: 810815	3%	0%	Serviced by: Higher Education Servicing Corporation Sold To: North Texas Higher Education Authority .25% interest rate discount for auto debit.
Citibank 800-967-2400 ID: 826878	3%	0%	Serviced by: Citibank Sold To: Not sold .50% interest rate reduction when enter repayment. .25% interest rate reduction for auto debit. Waive last 6 months when all payments have been made on time.
Edamerica 800-337-1009 ID: 831453	3%	0%	Serviced by: Edfinancial Services Sold To: Edsouth .25% interest rate discount for auto debit.
Bank of America 800-835-4611 ID: 832733	3%	0%	Serviced by: ACS Sold To: Not sold .25% interest rate reduction for Bank of America checking or savings account customers
Access Group 800-282-1550 ID: 808851	3%	0%	Serviced by: Access Group Sold To: Access Group .25% interest rate discount for auto debit.
MyEd Student Loans 877-693-3411 ID: 834395	3%	0%	Serviced by: PPSLC Panhandle-Plains SLC Sold To: Panhandle Plains Higher Education Authority No Borrower Benefits
Discover 877-728-3030 ID: 831312	3%	0%	Serviced by: Great Lakes Higher Education Servicing Sold To: Not sold .25% interest rate discount for auto debit. .25% interest rate reduction, up-front.
First National Bank-Hunstville 800-813-4372 ID: 833416	3%	0%	Serviced by: Higher Education Servicing Corporation Sold To: North Texas Higher Education Authority .25% interest rate discount for auto debit.
Sallie Mae Education Trust 800-891-1410 ID: 802218	3%	0%	Serviced by: Sallie Mae Sold To: Not sold .25% interest rate discount for auto debit.
Aggieland Credit Union 877-462-4443 ID: 830445	3%	0%	Serviced by: Aggieland Credit Union Sold To: North Texas Higher Education Authority .25% interest rate discount for auto debit.
Woodforest National Bank 877-804-3603 ID: 833418	3%	0%	Serviced by: Nelnet Sold To: Nelnet .25% interest rate discount for auto debit.

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