Special Opportunity Lender List

UW- Stevens Point has made special arrangements with the lenders on the following list to assure that any Stafford Loan borrowed by a UWSP student from them will have an opportunity to participate in interest-reduction benefit programs shortly after the student’s graduation. These benefits can save you, the student a lot of money when it comes to repayment of your loan ($1,000’s can be saved, depending upon how much is ultimately borrowed). However, you are free to borrow from any lender you choose, who is eligible to make educational loans.

The following is a list of established lenders who we have placed on our special opportunity list because, they (1) reached a specific threshold in loan volume at UW-SP, (2) use Great Lakes Higher Educational Corporation (GLHEC) as their guarantor, and (3) offer repayment benefits. Prior to completing the promissory note process, contact those lenders you are considering, and verify what benefits they are currently offering. Just click on the lender name to be directed to a lender's web site where their benefits are described."

• AnchorBank
  Lender code: #823011; Telephone: (800) 236-8769
  
• Citibank
  Lender code: #826878; Telephone: (800) 967-2400
  
• Wells Fargo
  Lender code: #807176; Telephone: (800) 378-5526
  
• UW Credit Union
  Lender code: #818611; Telephone: (800) 533-6773
  
• US Bank
  Lender code: #821654; Telephone: (800) 242-1200
  
• Associated Bank
  Lender code: #830492; Telephone: (800) 789-6765
  
• Chase
  Lender code: #808956; Telephone: (800) 487-4404
  
• M & I Bank
  Lender code: #811949; Telephone: (866) 866-7372
  
• Sallie Mae
  Lender code: #862218; Telephone: (800) 247-0462
  

Correspondence for all of these lenders is to be sent to Great Lakes Processing Center, P.O. Box 7987, Madison, WI 53707.

It may not be easy to comply with the requirements to get these special benefits, but there is a big payoff if this is done-- a student borrowing $20,000 who never misses a payment in the first four-years and has the monthly payment automatically drawn from his or her paycheck could save up to $2,137 in interest and refunds under this arrangement.

It is important to realize how these loans are handled after the repayment agreement is signed. When a student leaves school, most loans are sold to someone else (referred to as the secondary market). There are a number of players in this secondary market, and they make bids to the lenders offering to buy the loans at varying prices. Most lenders will sell to the highest bidder to make the most profit, but some have agreed to sell at a lower price to gain these benefits for UWSP students. They take less profit so that their borrowers will be able to participate in these special cost-reduction programs.

We therefore recommend that you seek a lender that promises to provide these benefits. We suggest that you choose one of the Special Opportunity Lenders listed below when it comes time to identify your lender. These lenders have all promised to provide these benefits as described and will transfer your loan proceeds to UWSP electronically through Great Lakes Higher Education Corporation, giving you the assurance of fast delivery of your loan disbursement. Appropriate loan application materials (the Master Promissory Note (MPN) and/or the loan request form) will be sent to you directly from Great Lakes Higher Education Corporation (GLHEC) at this time-- you will be asked to identify your lender code on the MPN when you initiate your first loan. In the following years you will simply indicate how much you wish to add to your loan by sending in a loan request form to GLHEC in response to the mailing you receive from them.