UHEAA Offers “No Fee” Stafford Loans With Partner Lenders
Revised March 27, 2006 by UHEAA Bulletin Volume 2006, Issue 18
In partnership with participating Utah student loan lenders, the Utah Higher Education Assistance Authority (UHEAA) will offer “no fee” loans to Federal Stafford Loan borrowers. Stafford borrowers will pay no fees, allowing them to receive the full amount borrowed to pay for higher education expenses.
UHEAA will continue to pay the one percent guarantee fee (renamed “default fee” by the recent reconciliation legislation). UHEAA partner lenders will not charge the origination fee up front and will be reimbursed by UHEAA for the origination fee when the lender sells the loan to UHEAA.
Attached is a timetable showing the date the loan origination fee will be eliminated on Stafford loans for each UHEAA partner lender. Any questions related to this Bulletin should be directed to UHEAA Policy and Training at 801.321.7166 or by e-mail to mjohnson@utahsbr.edu.