Trends and Issues

Question of the week

Q.: I know a school cannot refuse to certify a loan if a borrower chooses a lender that is not on the school's preferred lender list, but can a school refuse to certify a loan for a lender that chooses not to work within the school's established electronic processes (e.g., TG Loans By Web™)?

A.: A school cannot refuse to certify a loan or otherwise impede or deny the use of a borrower’s selected lender for any reason. Borrowers are increasingly proactive in seeking lenders that they believe can best meet their needs, and the school must accommodate those choices regardless of the lender’s systems and processes. TG can assist the school and lenders in determining how to process a loan certification(s) when this situation arises.

Do you have a question?
If you have a question that needs an answer, feel free to Ask TG™. Ask TG is TG's online query tool for borrowers, schools, and lenders. It includes a database of frequently asked questions about financial aid, student loan processing, and TG's products and services. To submit a question to Ask TG, visit tgslc.custhelp.com.

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