Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • Students
    • All Topics
  • Contact
  • Submit
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
Sections
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
  • Home
  • About
  • Faculty Experts
  • For The Media
  • Videos
  • Topics
    • Alumni
    • Events
    • Faculty
    • Library
    • Research
    • Students
    • All Topics
  • Contact
  • Submit

Information regarding Syracuse University’s participation in the Recommended Lender Loan Process

Saturday, March 17, 2007, By News Staff
Share

Information regarding Syracuse University’s participation in the Recommended Lender Loan ProcessMarch 17, 2007Kevin C. Quinnkcquinn@syr.edu

This past week, New York State Attorney General Andrew Cuomo announced an investigation into lending practices involving colleges and universities, and Syracuse University was one of a number of college and universities mentioned in media coverage regarding this issue.

In recent years, higher education institutions across the nation, including Syracuse University, began maintaining recommended alternative loan provider lists, as a service to their students. These lists identified lenders who were committed to good-faith student lending practices and offered quality loans and customer service.

Nationally, this practice began at a time when there were thousands of different lenders at various levels of customer service, which in some cases resulted in service problems for students, their families, and their college/university. To help address this problem, some colleges and universities began identifying lenders who guaranteed a level of service and competitive financial rates, and passed along those lenders’ names to their students.

Under the recommended lender process Syracuse University uses, students can select a lender on this list (which totals at least five), but are not obligated to do so, and the Office of Financial Aid readily accepts alternative loan applications from any lenders that students or families choose. Most critically, no student is disadvantaged by using any of the recommended lenders, as every lender on the University’s list must offer at or below current market rate loans.

In fact, each year the University, through a committee consisting of financial aid professionals highly experienced in student loan policies and practices, evaluates each of the lenders on the list based on a wide array of criteria such as competitiveness of their rates, quality of their service, and flexibility of repayment options. More information on this is available at SU’s Office of Financial Aid’s website: http://financialaid.syr.edu/Alternativeloans.htm.

Yet, Attorney General Cuomo has raised an important issue regarding the fact that many institutions accept referral fees from some lenders that are on their recommended lender lists.

Syracuse University applauds Attorney General Cuomo’s efforts on behalf of college students. The University is fully cooperating with his office, had discussions with his staff this past week, and will be meeting with them this coming week. The University looks forward to working with the Attorney General’s Office on this issue.

  • Author

News Staff

  • Recent
  • Eight New Recruits Begin Campus Peace Officer Academy
    Thursday, May 19, 2022, By Christine Weber
  • Media Tip Sheet: Consequences of China Lockdown
    Thursday, May 19, 2022, By Vanessa Marquette
  • Dean Rajiv ‘Raj’ Dewan to Step Down as Dean of the School of Information Studies
    Thursday, May 19, 2022, By News Staff
  • 2022 Graduates Reflect on Service as Academic Coaches
    Thursday, May 19, 2022, By Ellen de Graffenreid
  • Funding Expands for Newhouse Professors’ Work on Technology to Combat Fake News
    Wednesday, May 18, 2022, By Wendy S. Loughlin

More In Uncategorized

Syracuse Views Spring 2022

We want to know how you experience Syracuse University. Take a photo and share it with us. We select photos from a variety of sources. Submit photos of your University experience using #SyracuseU on social media, fill out a submission…

“Can Supermarket Design Really Impact What You Buy?”

Shelley Kohan, adjunct faculty member in the Whitman School, was interviewed for the VeryWell Mind story “Can Supermarket Design Really Impact What You Buy?” Kohan, a retail executive with 25 years of experience, explained that many grocery stores are following…

“COVID Truthers Have Found a New ‘Pandemic’ to Freak Out About”

Michael Barkun, professor emeritus of political science in the Maxwell School, was quoted in the Daily Beast story “COVID Truthers Have Found a New ‘Pandemic’ to Freak Out About.” Barkun, who is an expert on extremism and conspiracy theories, explained…

“With Elon Musk’s Twitter bid, there’s more at stake than freedom of speech: ‘It gives him a lot more influence over government'”

JM Grygiel, associate professor of communications in the Newhouse School, was quoted in the MarketWatch article “With Elon Musk’s Twitter bid, there’s more at stake than freedom of speech: ‘It gives him a lot more influence over government.’” Grygiel, who…

Koppl writes “Biden Establishes a Ministry of Truth”

Roger Koppl, professor of finance in the Whitman School, co-authored The Wall Street Journal opinion piece “Biden Establishes a Ministry of Truth.” The Department of Homeland Security recently announced the formation of the Disinformation Governance Board. The goal of the…

Subscribe to SU Today

If you need help with your subscription, contact sunews@syr.edu.

Connect With Us

  • Twitter
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
Social Media Directory

For the Media

Find an Expert Follow @SyracuseUNews
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
  • @SyracuseU
  • @SyracuseUNews
  • @SUCampus
  • Social Media Directory
  • Accessibility
  • Privacy
  • Campus Status
  • Syracuse.edu
© 2022 Syracuse University News. All Rights Reserved.