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									Dear Lender Colleagues: As Hagerstown Community College (HCC) approaches the 2008-09 academic year, we have decided to distribute a Lender Request for Information (RFI). The information received will be used to evaluate the products and services offered by lenders to determine which products best meet the needs of our students and parents. HCC participates in the Federal Stafford and PLUS programs. We do not certify alternative or private loans at this time. Lenders are selected for Hagerstown Community College’s Preferred Lender list based on their competitiveness in the following fields: 1) 2) 3) 4) 5) 6) Front end fees/benefits for borrowers Repayment incentives/benefits for borrowers Timeliness of Lender’s disbursement of funds to students Quality of customer service to students and administrators On-line and web products offered Name recognition and stability of lender.

HCC uses the Electronic Loan Management (ELM) Resources system to process loans, and any lender selected for HCC’s Preferred Lender List must fully participate in this system. HCC prefers to be the first point of contact for students in the loan application process and to transmit school loan certifications to ELM before MPNs are generated. HCC is currently Lender Flow. HCC’s preferred Guarantor is USAFunds and the preferred Servicer is Sallie Mae. Lenders who utilize the preferred Guarantor and Servicer set up are favored. Please distribute this information to the appropriate person within your company for a response. Respond to this RFI using this document format only. We will accept responses electronically, via fax at (301) 791-9165 or regular mail at Hagerstown Community College, Student Financial Aid Office, 11400 Robinwood Drive, Hagerstown, MD 21792. If you have questions concerning this RFI, please feel free to contact Stephny Lietuvnikas, Student Financial Aid Counselor at (301) 790-2800 x319 or by email at lietuvnikass@hagerstowncc.edu. Responses are due by 4:00 pm on February 15, 2008. We will not consider late submissions. If you choose to respond electronically, please email your response to me at the above mentioned email address. Responses to the RFI will be reviewed by committee between February 18th and 29th. A decision will be made by the no later than March 3, 2008. Lenders who are selected for the 2008-09 Preferred Lender List will be notified in writing by the Director of Student Financial Aid, Carolyn Cox. Thank you, Stephny Lietuvnikas Student Financial Aid Counselor Hagerstown Community College

Please provide responses for the following: 1.) Provide your company’s name, number of years in student loan business, website, and lender contact information including name, e-mail address, postal address, and direct telephone number. Describe your partnership with guarantors. Do you have a preferred guarantor to process your loans? If so, why? Describe your partnership with servicers. Do you have a preferred servicer to process your loans? If so, why? Does your organization have any contractual agreements to sell its loans at any point in the life of the loan? Do you provide life-of-loan servicing, either in-house or through an existing service relationship with another organization? What percentage of borrowers actually receives the “repayment” borrower benefits? Describe how borrowers are encouraged to take advantage of these repayment benefits. Are you committed to your pricing for the entire 2008-09 academic year, including Summer 2009 which ends August 24, 2009? Describe your default preventions and collection practices. Describe the customer service efforts your company would provide to our students, parents, and the Student Financial Aid Office. Please complete the following chart for all of your guarantor and servicer arrangements that you are submitting for review for PLUS and Stafford Loans for the 2008-09 academic year: Servicer Lender Code OriginationGuarantee fees charged (0 - 2.5% Stafford; 0 – 4% PLUS) In-School Borrower Benefits Repayment Borrower Benefits Average Savings For Student/Parent based On $10,000 loan

2.) 3.) 4.) 5.) 6.) 7.) 8.) 9.) 10.)

Guarantor

Provide information for each guarantor and servicer arrangement above: 11.) Who originates the loan (lender, guarantor, servicer)? Who should be contacted with origination problems? What is the postal address to which the Master Promissory Note (MPN) is sent? Is there an e-signature option? Who should be contacted with loan disbursement issues? Are there different servicers for in-school and in-repayment stages in the loan? Describe the services that you (or your representative) provide to borrowers in repayment. Do you provide electronic repayment services and combined billing?

12.) 13.) 14.)


								
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