Preferred Lender Selection Process

Anderson University thoroughly reviewed Requests for Information (RFIs) from 13 lenders, scoring each lender using criteria we determined to be important. We ranked the lenders and then selected the top three.

Lenders selected were deemed to provide superior customer services as evidenced by favorable hold and answer times along with extended hours of operations. Ease of processing was also an important consideration measured by the lender's flexibility to work with multiple guarantors, servicers and our own information systems. The lenders selected had to have proven track records of offering superior counseling that fostered dependable and lasting relationships and a full range of borrower benefits (reduction of interest rate; payment of mandated fees or principle) that were easily obtained and sustained. Default avoidance was also an important consideration with success being evidenced by the lender having a low cohort default rate. We highly ranked those lenders that offered online debt counseling and debt management tools along with making multiple repayment, forbearance and deferment options to the borrowers.

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