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Benefits
SCHOOLS
Federal student loan programs benefit postsecondary institutions, providing a wide array of products and services including:
- A complete package of loan offerings to meet every student's financial aid needs. Today, loans are available for many different types of students including: undergraduates, graduates, full-time students, half-time students, adult learners, non-traditional students and students studying abroad, as well as parents.
- Customized financial aid counseling for students and families in partnership with institutions.
- Servicing capabilities to facilitate loan processing needs.
- Complete online education loan application, approval, and funding.
- Entrance and exit counseling materials and services that emphasize the importance of understanding a student's rights and responsibilities as well as the need for students to maintain communications with their institution, lender, guarantor and servicer.
- A commitment to better debt management and default prevention. Today's default rates are at historic lows, as schools, lenders, guaranty agencies, and servicers have implemented sound default management practices and support to reach students pro-actively before they become delinquent on their loans.
- Competition born of the partnership between postsecondary institutions, loan providers, guarantors and servicers drives private sector innovation and investments in the student loan delivery system.
- Improved and innovative services, such as online access to loans, flexible repayment options, E-signature processing and customer support.
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