US Dept of Education

Lenders and Guarantors

The Federal Family Education Loan Program (FFELP) provides substantial borrower benefits while concurrently streamlining delivery of funds to you in a timely and efficient manner.

Murdoch University has selected lenders that are recognized for their excellent service levels to students attending foreign universities and streamlined funds delivery processes. Murdoch University has three preferred lenders that they recommend students use to fund their loans.

Murdoch’s preferred lenders, and their respective lender codes are:

• Bank of America (818334) click here to find out more about Bank of America
• Collegiate Funding Services (CFS) (834059) click here to learn more about CFS
• Educaid / Wachovia (830005) click here to find out more about Educaid/ Wachovia
• Citizens Bank (802176) click here to find out more about Citizens Bank

If you have a previous student loan(s) with a different lender from those listed above, you may use your previous lender by entering their lender code on your MPN.

Borrowers may receive a variety of benefits from their chosen lender, including but not limited to:

a) Interest credit at time of repayment
b) Interest rate reduction for utilizing direct debit facilities (not available for foreign bank accounts)
c) Principle reductions for on-time payments

Lenders websites will details what benefits or offers they offer to students who choose to partner with them.

Guarantors

For fast and efficient loan processing, Murdoch University has partnered with American Student Assistance (ASA) one of the nation’s leading loan guarantors. Click here to visit ASA’s web site.

Students can go online and apply for Stafford Loans through ASA. Click here to apply now.

If you have a previous relationship with a guarantor and you wish to remain with them, then Murdoch University will work with your nominated guarantor.

Please be aware that there is a discretionary charge of up to 1% of your awarded aid, which some guarantee agencies charge students. Your choice of guarantor will determine whether this amount is deducted from your funding or not.

Murdoch’s preferred guarantor ASA does not impose this charge.