Arkansas Tech University no longer has a preferred lender list.

Federal regulations prohibit Tech from directing you to a specific lender. We suggest you check with your current bank to see if they participate in the Federal Stafford Loan program, check bank web sites for participation and specifics regarding any borrower benefits and with other students who have had student loans for their opinion on a specific lender’s service. Note:  You do not complete any forms with the bank.  All you have to do is let us know the bank name and lender code.

Additionally, several lenders have either left the Stafford Loan Program, no longer lend to Tech students or have changed their processing.

Chase, NextStudent, Student Loan Xpress, Bank of Oklahoma, Bank of Arkansas, College Loan Corp and Wells Fargo are no longer available lenders.  Arkansas Student Loan Authority and all of their team lenders (with lender codes ending in 509) will only be lending in 2008 and 2009 to students and parents that had previous loans with them.

Bank of America has changed processing agencies and their lender number.  This means that previous Bank of America borrowers will have to either choose another lender or have their loan processed through the new number (824421).  Either way students will have to complete a new promissory note.  Note: Students who borrowed under the Bank of America code 807674 could choose one of the following lenders in order to stay with the same servicer and have only one loan payment when they leave school:  Arvest (800301), First Security Bank (834348), Commerce Bank (813979) or Petit Jean State Bank (834155).  Also students who borrowed under the code 811735 could choose one of the following lenders in order to stay with the same servicer:  EdAmerica (831453), First Security Bank (813826), US Bank (811930), or Simmons 1st National Bank (815745). 

You can determine who your previous lender was and their lender number by reviewing the Notice of Guarantee which has been sent to you for each loan.