Welcome!

Welcome to Wallace State Community College. This student loan comparison tool includes Stafford and PLUS loans. Please complete all in-house paperwork from the complete packet on www.wallacestate.edu/finaid.html and submit it to the financial aid office. We cannot complete processing of your Stafford Loan until this in-house paperwork is in place. It is the student’s responsibility to make sure the financial aid office has received all documents necessary to process the student's file. It is also the student's responsibility to make sure they are unconditionally admitted in the admission's office. Aid cannot be awarded until both files are complete. This includes all documents required for verification, transcripts, photo ID and placement test scores.

If you have questions, we're here to help!

Becky Graves
Director of Financial Aid

Borrowers can choose any Stafford/PLUS lender that participates in the Federal Family Education Loan program and any lender for a private loan, even if they are not listed here. The Financial Aid Office encourages borrowers to compare lenders to make an informed choice.

Lender List Rationale

Wallace State Community College carefully reviews lenders' policies and products regularly to find the best rates and service among student loan lenders for our students.

To assist families in this decision, the Financial Aid Office compiled a list of institutions that we consider excellent in the educational lending field. We have found each of these lenders to provide prompt reconciliation of loan issues. They also provide fast electronic payment of loan funds directly to your school billing account, and offer a variety of savings programs during loan repayment.

Please note that you are not required to use one of these lenders. The Financial Aid Office will process your loan with any lender you choose. Also keep in mind that choosing a lender that processes your loan outside of our normal channels may delay your funds arrival at our school and therefore delayed the funds being disbursed to you. If you do not see your lender on the list, please provide their 6 digit lender code to so that we can process your loan with your lender of choice.

How was this list developed?

Recently, there has been a great deal of discussion regarding how lenders are chosen by financial aid offices. The Wallace State Community College Financial Aid Office is committed to choosing lenders who provide good service and benefits to our students. We survey lenders every year. Lenders are asked to provide information regarding their services via a Request for Information (RFI).

The lenders' responses to the RFI are ranked using criteria developed by the National Association of Student Financial Aid Administrators (NASFAA). The results of these rankings are reviewed by the financial aid office to determine our Lender List for the school year. We continue to update the list as changes occur.

Wallace State Community College continues to provide students and their families with a Lender List despite current concerns regarding such lists because we believe that it is helpful to our students, who often request guidance in the selection of a lender. This interactive Lender List is intended as a guide only. The Financial Aid Office will process a loan from any lender selected by a student.

Please feel free to contact the Financial Aid Office if you have any questions about the process or the lenders selected at financialaid@wallacestate.edu or stafford.loans@wallacestate.edu.