Welcome to the Stafford Loan page for Ferrum College.

Choosing a Stafford Loan Lender is an important part of the financial aid process. Borrowers often ask our counselors for help in selecting a reliable lender. We encourage all borrowers to research lenders by visiting their websites and contacting them directly for more information regarding their products and services.

Below is a listing of Stafford Loan Lenders who are leaders in the education loan industry. Students are not required to use any of the lenders listed below. Ferrum College will process a Stafford Loan with any lender selected by the student. A comprehensive list of lenders with Virginia’s Designated Guarantee Agency Educational Credit Management Corporation (ECMC) is available online at www.ecmc.org/student/participating_lenders.html

All first time Stafford Loan borrowers are required to complete an Entrance Counseling session as well as a Stafford Loan Master Promissory Note. No loans will be processed until all financial aid information is completed and finalized.

When you have decided on a lender, click on the lender’s name to proceed to the next step. If your lender is not listed, please print a blank Stafford Loan Master Promissory Note online at https://www.ecmc.org/esign/images/staff.pdf and mail to the Financial Aid Office, then complete a Stafford Loan Entrance Counseling session online at www.ferrum.edu/financialaid/SPP.htm

The information below is provided by the lender.  Ferrum College assumes no liability for inaccurate information or change in benefits.  Please contact the lender for more information regarding their products and services.

Wachovia	830005	Effective for all loans disbursed on or after July, 1 2008: 0.25% interest rate reduction for ACH  No pre-payment penalties Flexible repayment options  Free “Money Smart” financial literacy program on line  Free Checking, Savings, ATM cards
Sallie Mae	802218	Effective for loans guaranteed on or after June 9, 2008 0.25% Interest Rate Reduction for automatic debit
SunTrust	819873	Effective for loans disbursed on or after June 9, 2008: 0.25% interest rate reduction for borrowers who sign up for ACH. Easy online application process and e-signature option Fixed Interest Rate - 6.0% for subsidized undergraduate and 6.8% for unsubsidized 24/7 Online account access No pre-payment penalties Flexible repayment options