Stafford Loan Lender List

The list below is the new UMF Suggested Lender List for Stafford Loan Borrowers.  The lenders listed below participate in the Federal Stafford Loan program and have established electronic loan processing and payment procedures with UMF.  UMF students may borrow a Federal Stafford Loan from any participating lender of their choice.

Please note that this information is not inclusive of all lenders, but provides information pertaining to our most common lenders that we have selected to list for your convenience based on a combination of factors.  These unaffiliated lenders have been widely used by our student aid population.  We have consulted with colleagues at other institutions to help inform our judgment in establishing this list, we have been mindful of several factors including the needs for long-term and reliable loan servicing, high quality loan processing, continuity, use of a Maine guarantee, reliable reputations, and other factors that have helped build our confidence that these lenders will perform in the best interests of UMF borrowers.  Prospective borrowers are not limited  to lenders on UMF's prepared list.  You may choose any eligible lender and we will process your request.  In fact, we encourage borrowers to pursue that each borrower believes is best in each individual situation.  The Financial Aid Office will process Stafford Loan applications from any participating lender, including out-of-state lenders, whether or not the lender is listed below.

To receive a Federal Stafford Loan at UMF, you must complete a Master Promissory Note (MPN). The MPN provides the convenience of completing one promissory note for all the Federal Stafford Loans you will borrow for up to ten years, if you borrow from the same lender each year. To receive your loan, complete the Stafford Loan section on the reverse side of your UMF financial aid award notice and return it to the Financial Aid Office.

IF YOU CHOOSE A LENDER LISTED BELOW, UMF will certify your loan eligibility and the loan servicer will send you the MPN to complete and return to the lender.  If you borrowed a Stafford Loan previously using the MPN, a new one is not needed.  IF YOU CHOOSE A LENDER NOT LISTED BELOW, obtain a MPN from your lender and submit it to the Financial Aid Office for processing.  The approved amount of your loan for each semester, less guarantee and origination fees, will be applied to your bill when UMF receives the funds.