Some questions to ask lenders

• How long have you been in student loans?
• Are you a financially secure company?
• Who services your loans?
• Who guarantees your loans?
• Who performs customer service for you? What kind of training or qualifications do they have?
• Do you certify your compliance with applicable regulations? Where? May I get a copy?
• Do you charge an origination fee?
• Do you charge a default aversion fee?
• If you rebate the loan fees, when and based on what principal amount?
• How do I earn any interest rate or fee reductions?
• When do I earn any interest rate or fee reductions? Is your rate reduction immediate? Is your fee reduction immediate?
• Do I have to do anything to keep my benefits?
• Do I lose any benefits if I make one late payment? Do I lose those benefits forever?
• What happens to my eligibility for benefits if I consolidate my loans?
• Do I have to repay earned benefits if I consolidate my loans with another lender?
• Where do you disclose the terms and conditions for your loan discounts and benefits? Will you provide/confirm the terms and conditions in writing?