[Oasfaa] Guarantor Question

[Hollingsworth, Larry]

Great question Jonna. I'll be the first to jump in. Hopefully, others
will join us. You're not alone struggling with this delimma. Many of us
are "in a pickle" on this one though. 
 
Who among our students, if given the opportunity to pay zero fees or pay
a 1% fee would opt for the 1%? Not many I'd bet. At the same time who
among our financial aid offices wants to sit down with a student/parent
and defend processing a loan with 1% fees when it could have been
processed with no fees? I don't look forward to that type of a
conversation. Therefore, I'm trying to figure our a simple way of
communicating the choices to our students and let them make the decision
for themselves.
 
When lenders are biting the bullet and waiving fees in order to be
competitive, I'd like to see OGSLP do the same thing. Unfortunately, I
don't believe state schools have to same flexibility that privates do in
pursuing a better alternative for their students. Let's face it,
polictics are part of the environment in which we live. So if anyone has
any creative solutions in mind, please share them with the rest of us. 
 
These observations are not intended to represent anyone but me. 
 
Larry

________________________________

From: oasfaa-bounces at lists.onenet.net
[mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Jonna L. Raney
Sent: Wednesday, March 01, 2006 12:45 PM
To: oasfaa at onenet.net
Subject: [Oasfaa] Guarantor Question



I'm interested to know what schools are doing for 06/07 about the
guarantor for their loans. I'm torn because I want to do business in OK,
but if other guarantors are paying the 1% guarantee fee, I have to also
keep in mind what is best for our students. I feel like the service from
the 1% guarantor and the no fee guarantor are both very good, so that's
not a big factor in the decision for me. 

 

 

I don't want to step on any toes, but I need to make a decision about
this topic fairly soon.  I'd like to hear from both State and Private
schools if possible.

 

Thanks for any feedback. 

 

Jonna Raney

St. Gregory's University

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