Here are the highlights from the recent SLA Flash Survey on Private Loan Lender Lists, which had 170 respondents:
- In findings that mirrored the results of an SLA flash survey last December, only 1 in 7 survey respondents created a private loan lender list for 2010-11 through a formal selection process. The most popular strategy: listing all lenders that students have used in the last 3-5 years, which certainly will not make life easy for new entrants into the marketplace. Almost 1 in 3 of the survey respondents are not providing a list to students. Here are various lender list strategies with the frequency they were selected by survey respondents:
Lender List Strategy |
||
School is listing all private student loan lenders used by students in the last 3-5 years (that are still making loans) |
34.1% | |
|
30.6% | |
School created private loan lender list through a formal selection process |
15.4% | |
School IS providing a list of private loan lenders by linking to a third party website |
11.2% | |
|
2.9% | |
Other |
5.9% |