Niagara University is committed to offering students and their families the best possible assistance to meet their college expenses. As a service, Niagara has done the research necessary to identify several reputable lenders that provide the best rates, service and convenience for our students. Borrowers have the right and ability to select the education loan provider of their choice, are not required to use any of the lenders on our preferred lender list, and will suffer no penalty for choosing a lender that is not on our preferred lender list. Niagara receives no incentive or benefit from any lender whether or not they are designated as a preferred lender.

Annually lenders are evaluated on the criteria listed below. Product, services and processes play an equal role in our evaluation. Niagara requests extensive and detailed information from lenders to assess lender performance. To be selected as a preferred lender, the financial institution must be reputable and provided the following to Niagara students:

• A competitive set of products and rates with no hidden fees.


• Unsubsidized interest is added to the principal of the loan only once at repayment.


• Excellent service and toll free customer service numbers.


• Quick response to the needs of Niagara students and families.


• Direct contact representatives that Niagara staff can contact directly to resolve any issues quickly.


• Full electronic processing of loans including electronic transfer of funds.


• Lenders have informed us that they reserve the right to discontinue or modify benefit programs at any time.

About Federal Stafford Loan Interest Rates and Fees

The interest rate for the Undergraduate Federal Stafford Subsidized Loan is fixed at 6 percent, and the Graduate Federal Subsidized, Unsubsidized, and Undergraduate Federal Stafford Unsubsidized Loan has a fixed interest rate of 6.8 percent.These interest rates are set by the federal government regardless of which lender you choose. Some lenders deduct a 1 percent loan origination fee and your guarantor may deduct a 1 percent default fee.

Borrowers have the right and ability to select the education loan provider of their choice, are not required to use any of the lenders on our preferred lender list, and will suffer no penalty for choosing a lender that is not on our preferred lender list. Niagara will certify a loan with ANY lender you choose.

Lender order was selected at random. To view additional information from each lender click the lender name.

By signing your award letter, you have agreed to use New York State Higher Education Services Corp. HESC as your guarantor. If you decide to use another guarantor, such as Pennsylvania Higher Education (AES/PHEAA) or Great Lakes Higher Education (many credit unions go through Great Lakes), you need to let the Financial Aid Office know.

Be aware that when a lender refers to rates ‘as low as X.X%’, they are referring to the lowest rate you might receive if you attain all borrower benefits. Only a small number of borrowers actually receive this reduced rate.

We provide our students a choice of lenders that offer different ways for you to save money. Some of our preferred lenders waive the borrower’s 1 percent origination fee and offer some repayment benefits. Others charge an origination fee and offer extensive opportunities that result in comparable savings.