The Student Loan Finance Corporation
Servicing Students and Lenders
Student loans are big business. In many instances smaller lenders and student loan providers have problems integrating the resources necessary to manage an increasingly technical market. The Student Loan Finance Corporation (SLFC) is known in the industry as a "secondary market" - a kind of clearinghouse for student loans. Not only do they provided seamless account management of all types of student loans, but they also "buy" out loans from lenders and in turn manage all accounts themselves.
Products and Services
Since the SLFC is a secondary market for student loans, meaning this type of corporation is limited in what it can offer students directly. However, you can apply through SLFC for a number of private student loans, often also known as alternative student loans. Private loans are awarded according to credit status and if approved you can typically borrow as little or as much as you need to augment lackluster federal loan awards. As with other providers you will be expected to apply for federal student loans first before you apply for private loans.
The other featured products offered by the SLFC are their affordable and easy student loan consolidations. For many graduates, multiple student loan payments become a burden, especially if the graduate has not found a well paying job within the 6 - 9 month grace period following graduation. For years many students defaulted on loans - meaning they failed to meet payment conditions, which immediately null and voids loan repayment agreements and damages credit irreparably.
Today, more and more student loan providers and lenders of all types are vigorously marketing the ease and advantage of student loan consolidations. Applying for a student consolidation loan is easy and commonplace. Multiple student loans can be bundled into one, low monthly payment.
Planning for College with SLFC
A feature of the SLFC is their online college planning tools. Do you need to know more about the nitty-gritty of financial aid? Are you confused about the types of student loans available and which ones are right for you? Access valuable how-to's on the federal loan programs, including grants and even scholarship opportunities.
Online calculators will assist you estimating your college expenses and final loan balances you can expect in advance.
