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Alternative Private Educational Loans


Location
Maine
Publication Date
04/01/2019 12:42 PM EDT
Closing Date
04/22/2019 08:00 PM EDT
Issuing Organization
University of Maine System
Solicitation Number
Description

Specifications include, but are not limited to: The University of Maine System (UMS) is seeking responses from firms having expertise in providing alternative private educational loans. The purpose of this Request for Qualifications (RFQ) is to create a list of qualified lenders from which UMS can identify and provide to its students and parents information regarding lenders of private loan products that have competitive rates, excellent customer service and borrower benefits. UMS seeks information from lenders interested in serving our traditional undergraduate, non- traditional undergraduate and graduate. All lenders will be expected to adhere to the following minimum standards in order to be considered for inclusion in the list of loan products and lenders: 1. Resolution of loan certification, disbursement, and servicing issues within 24 business hours 2. Superior customer service to our students and families 3. Dedicated customer service representative(s) as well as a toll free priority service telephone number to serve borrowers and Financial Aid staff at UMS 4. Commitment to honor benefits and loan terms that are described in lender responses to the RFI for the entirety of the 2017-2018 and 2018-2019 processing years (July 1, 2017 to June 30, 2018 and July 1, 2018 to June 30, 2019) 5. Reporting of key operational and financial metrics, including but not limited to, loan volumes and approval rates on a quarterly basis 6. Online certification and ability to disburse loan funds via EFT

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