[Oasfaa] Guarantor Question

[Nancy Moats]

To add to both of your comments, has anyone seen anything in writing from a
guarantor who is willing to subsidize the 1% fee, and if so, is there any
commitment to subsidize it beyond this first year?

 

Nancy Moats

 

 

-----Original Message-----
From: oasfaa-bounces at lists.onenet.net
[mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Hollingsworth, Larry
Sent: Wednesday, March 01, 2006 2:03 PM
To: oasfaa at onenet.net
Subject: RE: [Oasfaa] Guarantor Question

 

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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