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If you are a first time Stafford Loan borrower at ETBU, you must complete the online Loan Entrance Counseling as well as completing an online Master Promissory Note (Loan Application). If the lender you choose charges an origination fee, that amount will be deducted from the total loan amount before it is applied to your account. Loan funds will be disbursed in two or more installments. Federal loan funds will be sent via electronic funds transfer (EFT) to ETBU. The school will then release the funds to your student account. Any excess funds will be provided to you by check from the University. If you are a first-year, first-time undergraduate borrower, Federal regulations require that your loan funds not be disbursed until 30 days after the first day of classes.
The lenders provided were chosen because we have found they provide the best customer service for our students. These lenders either have the lowest fees, or charge no fee at all to the borrower. Loans through these lenders are processed online and the money electronically transmitted to the student's account.
THE USE OF ETBU'S LIST IS NOT REQUIRED. You have the right to choose any lender you want. If you choose a lender not on the list, you must contact that lender to initiate the loan application process. You must then contact the Loan Coordinator in the Financial Aid Office and provide information on the lender you have chosen. You should choose the lender that best meets your needs and offers the most favorable terms.
DISCLAIMER: East Texas Baptist University receives no financial incentives from lenders included on our list.
Online Master Promissory Note Link
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