The organization that administers the FFELP Program for your state. The main agencies that Purdue Calumet utilizes are USA Funds and Illinois Student Assistance Commission (ISAC)
Guarantee agencies are responsible for approving student loans and insuring them against default. Guarantee agencies also oversee the student loan process and enforce federal and state rules regarding student loans. If a borrower defaults on an educational loan, the guarantee agency assumes responsibility for collecting the loan and repays the lender. This means that guaranteed educational loans are extremely low-risk loans for the lender, despite being unsecured. Each state has a different guarantee agency that administers the Federal Stafford and PLUS loans for students in that state. There are 41 guarantee agencies for educational loans in the United States. The state guarantee agency is the best source of information about FFELP loans in that state. Although the federal government sets the overall structure of the FFELP loan program (for example, loan limits and interest rates), each state may set additional restrictions on the loans, within federal guidelines. For the name, address, and telephone number of the state's guarantee agency, call the Federal Student Aid Information Center at 1-800-433-3243 (1-800-4-FED-AID).
This is an agency that guarantees the loan and repays a lender, should the borrower default on a student loan. In Texas, Texas Guaranteed Student Loan Corporation is our guarantee agency.
A state or private nonprofit agency that has an agreement with the Secretary to administer the FFEL (Guaranteed Student Loan) programs. The agency insures lenders against losses due to a borrower's default. Also called "guarantor" or "guaranty agency."
a state or non-profit organization that approves student loans and insures them against default
The organization that administers the SSL/GSL and SLS programs in your state. The federal government sets loan limits and interest rates, but each state is free to set its own additional limitations, within federal guidelines.
A state or private non-profit entity that administers a student loan insurance program, i.e. NHHEAF or VSAC.
An organization which acts as an agent for the federal government to administer and insure federal loans.
The agency that insures the guaranteed education loans made by lenders. The guarantor can sometimes help on your behalf if you have problems that can't be resolved by your lender or servicer.
A state agency or private, non-profit organization that administers and insures the Federal Family Education Loan Program (FFELP).
A state or private non-profit agency that has an agreement with the Secretary of Education which authorizes the entity to guarantee a student loan under a program of the Higher Education Act. The guarantor is the agency that guarantees to the lender on behalf of the Education Department that Federal Stafford Loans and Federal PLUS Loans will be repaid in certain circumstances if a borrower defaults.
The agency that insures Federal Family Education loans against default.
A state or private nonprofit organization that has an agreement with the U.S. Secretary of Education to administer a loan guarantee program under the Higher Education Act.
One of approximately forty companies throughout the country that financially guarantee that loans made by lenders under the FFELP will be repaid. Guarantee agencies typically retain a percentage of each student loan to maintain a fund to cover unpaid loans.
State or non-profit agency that insures the student loan for lenders and administers the student loan insurance program for the federal government.
An agency which acts as an intermediary for the federal government in providing guarantees to repay lenders if FFELP loan borrowers default.
A state agency or private non-profit organization that insures lenders against loss due to the borrower's default, death, disability, or bankruptcy. The guarantee agency is reinsured by the U.S. Department of Education for all or part of the amount paid to lenders.
The organization that administers the Federal Education Loan Programs in each state and insures lenders against losses due to a borrower's default, death, disability, or bankruptcy. The federal government sets loan limits and interest rate, but each state is free to set its own additional limits within the federal guidelines.
Guarantees lenders against losses due to default on student loans. HSBC utilizes NYSHESC for NYS loans, OSFA for Florida loans and USAF for other out-of-state loans.
This is an agency that repays a lender should a borrower default on a student loan. In California the state agency responsible for administering and guranteeing student loans is the California Student Aid Commission.
The guarantee agency (sometimes called the guarantor) oversees the student loan process, including the approval of the loan, and the issuance of a guarantee to the lender that the student loan will be repaid if the borrower defaults (does not repay the loan). A guarantee agency also provides public information about student loans, keeps permanent records of all loans made through it, enforces state and federal rules, and collects on defaulted loans.
A state agency or private, nonprofit institution or organization which administers a student loan insurance program. [ BACK
State, regional or national organization responsible for administering a student loan insurance program.
The organization that administers the Federal Stafford Student Loan Program in your state. The federal government sets loan limits and interest rates, but each state is free to set its own loan limitations within federal guidelines.
A guaranty agency is a state or non-profit organization, which insures student loans, pursuant to an agreement with the Secretary of Education under the Higher Education Act.