Puget Sound's Lender Selection Process

The basic terms of the Federal Stafford and PLUS loans are set by the federal government, so maximum interest rate, loan fees and deferment options will be identical for these loans no matter which lender you choose.  However, lenders do have the ability to offer special benefits to borrowers, such as reduced interest rates for automatic debit payment, interest rate reductions at the point the loan enters repayment, rate reduction or cash back after a specified number of on time payments, etc.  These special borrower benefits are unique to specific lenders and are not mandated or controlled by the federal government.  

In an effort to assist students and families in understanding these special borrower benefits and ultimately in choosing a lender, the University of Puget Sound has partnered with Simple Tuition, an online loan comparison tool designed to help you select a lender best suited to your particular needs. 

Student Financial Services has contributed a list of lenders to Simple Tuition’s loan comparison tool that offer competitive products, solid customer service, electronic payment of loan funds and a variety of savings programs during loan repayment. These lenders were selected by us for inclusion based on an annual survey which utilizes a Request For Information (RFI) format and included criteria such as length of time the lender has been in business, company background, lender mission and focus, methods employed by the lender to protect borrowers against identify, and information on borrower incentives and benefits.  Additional information related to our lender identification process is available upon request. 

Puget Sound does not benefit in any way from your choice of lender.  We are a member of the National Association of Student Financial Aid Administrators (NASFAA), and as such, conform and adhere to the NASFAA Statement of Ethical Principals, the Code of Conduct for Institutional Financial Aid Professionals, and to Puget Sound’s own Institutional Code of Conduct.

Please note that Student Financial Services will work to ensure the prompt processing and certification of Stafford or PLUS loans from any lender you select.