Financial Aid Office recognized for loan advice

Student Lending Analytics has recognized SUNY Fredonia in its October online newsletter, “Inside Student Lending,” for service to student and parent borrowers.

Specifically, the newsletter recognized Fredonia’s Federal Stafford Loan Disclosure process. Last spring, the Fredonia Financial Aid Office instituted a Request for Information process with each one of the college’s recommended lenders. The information can be found on Fredonia’s Financial Aid website under "Lenders FYI," or (click link here). Included is the policy, procedures and criteria used by SUNY Fredonia relating to the recommended lenders.

Tim Ranzetta of Student Lending Analytics noted that of close to 1,000 websites analyzed, SUNY Fredonia was unique in providing the lender responses to the Request for Information on the financial aid section of the school’s website and listed it in the newsletter’s “Notable Examples of Student Loan Disclosure.”

Associate Vice President for Enrollment Services Daniel Tramuta noted, “With federal and state legislation protecting students and parents from being steered by both lenders and schools into student loans laden with conflicts of interest, being recognized and featured by Student Lending Analytics for our federal Stafford Loan Disclosure practices reinforces the value that SUNY Fredonia has placed on accountability at all levels with the student loan industry. “

He added, “The Financial Aid Office’s Lender Request for Information process requires that each lender annually disclose its borrower benefits, current loan interest rates, information regarding consolidation benefits, commitment to quality customer service, life of loan servicing, etc. Displaying this information on our web site in a structured and transparent fashion can benefit our student and parent borrowers in making an informed decision for their lender of choice.”

Student Lending Analytics, LLC, is described by Mr. Tramuta as “basically a national think tank” on student lending trends within the industry, performing research and studies tied to student loan disclosure best practices, among other things, and serves a broad audience including financial aid professionals, lenders, parents and students both online and in person with consulting services tied to the student loan industry.