[Oasfaa] Guarantor Question

[Hollingsworth, Larry]

Hello you lucky souls who are still stuck in your offices on Friday
afternoon like me. Sherry's post regarding BOK picking up the guarantee
fee is very interesting because it's different from what I understood.
Hey BOK folks, we need your help here. I was wondering if Kimberly
(assuming she's not having a baby right now) or Jeremy might clarify for
us what fee(s) BOK will be "paying/waiving/providing/covering/picking
up" for 2006-07 - the lender origination fees and/or the guarantor
default fee? 

 

Thanks again to Pam and others for their contributions to our
discussion.

 

Larry

 

________________________________

From: oasfaa-bounces at lists.onenet.net
[mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Sherry Foster
Sent: Wednesday, March 01, 2006 2:55 PM
To: Nancy Moats; oasfaa at onenet.net
Subject: RE: [Oasfaa] Guarantor Question

 

I just visited with Kimberly today from BOK and she says that they are
picking up the Guarantee fee.  She just smiled when I mentioned future
years.  I don't think anyone knows for sure.

 

Sherry Foster

 

________________________________

From: oasfaa-bounces at lists.onenet.net
[mailto:oasfaa-bounces at lists.onenet.net] On Behalf Of Nancy Moats
Sent: Wednesday, March 01, 2006 2:48 PM
To: oasfaa at onenet.net
Subject: RE: [Oasfaa] Guarantor Question

 

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

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.onenet.net/pipermail/oasfaa/attachments/20060303/3e5b14f1/attachment.html