A picture is worth a thousand words and this one does not portend good outcomes for students and families as schools are moving away en masse from developing preferred lender lists for private student loans. Here is how 237 SLA Flash Survey participants responded to this statement: Please describe your institution's current plan for developing a lender list for private student loans for 2010-11:
For those wondering how results varied by school type, twice as many 4-year private institutions indicated that they would go through a formal RFI process as compared to 4-year publics. None of the two-year publics intend to develop a preferred lender list through a formal RFI process (click on link):
How is a trend deduced from a single year of results- “schools are moving away en masse from developing preferred lender lists for private student loans.” What were the survey results in past years- what's the baseline of financial aid administrators that planned to build preferred lender lists?
Posted by: S Langer | December 23, 2009 at 08:59 PM
Good question. In May of 2008, an SLA Flash Survey found that 61.8% of schools had a preferred lender list for private student loans: http://www.studentlendinganalytics.com/images/sla_press_release_may1908.pdf. So I guess I would say that a shift from 61.8% of schools having a preferred lender list to 15% would represent a significant trend. I will have a more complete analysis out next week and will be sure to provide that comparison. Thanks again for the question.
Tim
Posted by: Tim Ranzetta | December 24, 2009 at 10:13 AM