Beginning in the 2008-09 academic year, Claremont McKenna College will increase spending on financial aid by an additional
million dollars, replacing all packaged student loans with scholarship grant aid. However, for students wishing to be considered for additional funds, CMC does have a wide range of educational loans available to all students and their families to assist with educational expenses. This webpage is designed to provide you with information on each of the loan programs to help you make the right decision in financing your education.
The Financial Aid Office is available to assist you with any questions you may have regarding these loan programs and your lending options. Our office hours are Monday - Friday from 8am – 5pm, and we can be reached at (909) 621-8356.
For Information On Processing Your Federal Loans
The lenders listed below participate in the Federal Family Education Loan Program (FFELP) and have historically provided excellent service, expedient delivery of funds, and reliability to our students and parents. Claremont McKenna College does not receive anything of value from any lender in exchange for being listed below. Claremont McKenna College does not permit any inappropriate relationships between College employees and any lending institution. Although we have developed this lender list to assist our students and parents, please note that, consistent with federal regulations, you are welcome to choose any participating lender. If you wish to select a lender that is not on this list, please contact that lender to discuss their process.
This list is frequently evaluated and updated, and may be subject to change.
Step 2: Consistent with our desire to expedite funds to our borrowers and to provide quality service in the process, we have elected to use an electronic process. This process allows most borrowers to complete the Federal Master Promissory Note (MPN) and electronic signature process on-line. This enhances our office's ability to process and disburse loans in an expeditious manner. Claremont McKenna has established this process for the sole purpose of providing efficient and quality service to students and parents. Claremont McKenna College receives no incentives of any kind in using a lender's electronic process.
Step 3: The lenders listed below have historically provided competitive borrower benefits, excellent service and reliability to our students and parents, as well as expedient delivery of funds.
Select a Lender:
To access additional information on the lenders listed below, and find out more about all their benefits and incentives, please visit their website. The address has been provided for you.
ALL STUDENT LOAN Lender Code 833752 888 271 9721 www.allstudentloan.org Borrower benefits for Stafford Loans include:
Up to 0.25% immediate interest rate reduction for ACH
1.0% credit of the original principal amount after the first 12 consecutive monthly "on-time" payments
0% Origination Fee
0% Default Fee when not paid by the guarantor
MAPPING YOUR FUTURE
Mapping Your Future is a national collaborative public service organization of the financial aid industry bringing together the expertise of the industry to provide free career, college financial aid, and financial literacy information and services for students, families, and schools via the web.
Mapping Your Future is supported by guaranty agencies (Sponsors), lenders, servicers, and secondary markets (Friends) in the Federal Family Education Loan Program. Through the support of Sponsors and Friends, Mapping Your Future is able to provide free services.
Student Loan Counseling Session
If you are a first-time Federal Stafford Loan borrower at CMC, Federal regulations require you to complete entrance counseling prior to receiving your first loan.
Click on the icon below to start your Stafford Entrance Counseling.
CMC is required to remind you of all your rights and responsibilities as a student borrower. We are also required to provide you with information concerning your deferment rights, as well as provide tools to help you manage your debt.
Click on the icon below to start your Stafford Exit Counseling.
