Danville Community College

Welcome to the Stafford Loans page for Danville Community College.

The Financial Aid Office at Danville Community College has selected a diverse list of lenders that offer the highest level of service and other benefits for our students. We base our decision on who makes this list on a number of considerations which include: Ease of processing, borrower benefits, customer service and whether or not the lender sells its loans. Students have the right to choose any lender that participates in the Federal Stafford Loan program and we are required to accommodate the student if he/she chooses a lender not on our list. However, we feel that a preferred list is a helpful tool for students because the Financial Aid Office has investigated and determined that its lenders are top-notch and will service our students with excellence during all stages of the student loan process.

We encourage you to take advantage of the option to choose a lender; however, please note that IF you leave the preferrered lender line blank and do not select a lender, one will automatically be selected to process your loan application. If you decide that you would like to select a lender that is not listed above, please log off of this site and visit the Financial Aid Office to complete the paper loan application process.

When you have decided on a lender, click on the "Apply Now" button to proceed to the next step.

AMS/Sallie Mae 833067	Effective for loans guaranteed on or after June 9, 2008: 0.25% Interest Rate Reduction for automatic debit
Edamerica 831453	Effective for loans guaranteed on or after May 15, 2008: 0.25% interest rate reduction for auto-debit No pre-payment penalties One point of contact for life-of-loan servicing Flexible repayment options Non-profit funded company 20 years of experience concentrating solely on student loans
SunTrust 820564	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
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
Bank of America 824421	Effective November 1, 2008, Bank of America will cease offering borrower benefits on FFEL Loans.
Sallie Mae 802218	Effective for loans guaranteed on or after June 9, 2008 0.25% Interest Rate Reduction for automatic debit
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
Discover 831312	0% origination fee 0% Default/Guarantor fee 0.25% Auto Debit Reward: 0.25% interest rate reduction during repayment when payments are set up for automatic debit from a bank account

The information in this list has been provided by each lender and is subject to change at any time.
Accordingly, neither ECMC nor the school can verify the accuracy of the information or how current it may be.