Students and parents who borrow Federal Stafford Loan, Federal Graduate PLUS Loan, and Federal PLUS Loan funds need to select a lender for their loans. It is not necessary to have a banking relationship with the lender you choose unless a credit union is chosen. The lender does not need to be contacted prior to selecting them on the Master Promissory Note.

Borrowers are welcome to choose any lender, regardless of whether it appears on our partial list of lenders. WSU has compiled a partial list of lenders to provide reliable, time-sensitive customer service and expedient delivery of funds for borrowers. However, under federal regulations, borrowers may choose any participating lender. To select a lender that is not on the list, call Great Lakes Educational Loan Services at (800) 377-9095.

Regardless of which lender is selected, interest rate and repayment terms for the Federal Stafford and PLUS Loans are established by the federal government. However, for qualified borrowers, many lenders offer interest rate reductions and origination fee rebates which can save borrowers hundreds, even thousands, of dollars on their loans. Select the appropriate Aid Year for a list of various lenders and the benefits they offer to borrowers. Note not all borrowers will qualify for repayment benefits. Contact the lender for more detailed and/or up-to-date information.

2007-2008 Aid Year (Summer 2007 through Spring 2008)