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Stafford Loan Lender Information
Options & Comparisons
Lake Superior College does not endorse any one lender, and you may choose any lender you wish to use to process your loan. The lenders that are listed within the online loan application are those most commonly selected by LSC borrowers and have met LSC's preferred lender requirements.
If the lender you wish to use is located in Minnesota and is not one of those listed within the online application, click on "lender codes by city" to find the appropriate lender code to use within your loan application. If the lender it outside of Minnesota, please contact LaNita Robinson, Lake Superior College's Loan Officer, at 218-733-7616 or 1-800-432-2884. She will send you a paper promissory note to complete.
If you currently have student loan debt, it is normally advised that you continue to borrow from the same lender to simplify your repayment process even if they are not currently listed on LSC's preferred lender list. This choice, however, is up to you.
Federal guidelines regulate the primary features of student loan programs. However, some lenders offer special discounts and other borrower benefits. It is your responsibility to research the various lenders and choose the lender that best fits your needs. Information on each lender is accessible within LSC's online loan application.
Some lenders retain ownership of your loan throughout the life of the loan. Other lenders may sell your loans to a secondary market. The terms of the loan always remain the same; however, payments may be made to the new holder.
Some lenders offer both Stafford and Alternative Loans. If you are going to borrow both a Stafford and Alternative loan, it is convenient to use the same lender because when you enter repayment, you can make one payment to pay for both loans.
