Applied for loans through Navy Federal/Great Lakes

[Saturngoddess]

Where do I start?

 

I applied for the Stafford Sub/Unsub loans through Navy Federal with Great Lakes as the Guarantor. This was 8/25. I hadn't gotten a letter yet from either Great Lakes or Navy, so I figured I would follow up (and something told me before doing this that it was gonna go wrong - I should have listened).

 

Apparently, the school used EDFUND as the Guarantor when I went onto my financial aid page, it said EDFund as the Guarantor - I specifically gave the FA all the info - NAVY and Great Lakes codes and even gave them the certification form to send back to Great Lakes.

 

On our website, it has listed ELM Resources - so I went on my account and it has my previous student loans, and the new ones say "REJECTED FROM GUARANTOR"... It doesn't say when (or maybe it did and I missed it).

 

What happens now?

[LynnInMN]

You do not have a choice as to which guarantor you use. EDfund guarantees loans in California....Great Lakes is generally the upper midwest area. If Navy Fed doesnt participate with Edfund, you cannot use them.

 

You have to reapply using the correct guarantor and correct lenders.

[Saturngoddess]

Thanks Lynn..

 

When I spoke to the lady at Navy Federal, she never said anything about that. The packet for the Navy Federal loans states that I have to give the school Navy Federal's code and that of Great Lakes - Since they are sending out this packet to everyone that asks for one, I would think that they would let you know that. I'll call them (Navy Federal) today to find out.

Ugh..

 

I guess I will wait to hear back from the school.

Edited September 11, 2008 by Saturngoddess

[LynnInMN]

there is a good chance that navy fed doesnt work with edfund. Generally you get the list of your lenders from edfund or the school.

[Saturngoddess]

I went to the school today and they said that EdFund doesn't work with Navy (which I figured out) and that they had to manually send the information to Great Lakes. This was Monday, now it is Thursday, and I can't find the info on their website (it looks like they don't have the loan yet).

 

I guess I will have to wait a couple more days - I may just call and see if they have any info yet.

 

 

The FA lady also said that this happened to just more than one person - they sent in a bunch of apps, but the lender (a different one than Navy Fed) isn't doing loans anymore so they got a bunch of them rejected - now everyone has to come in and fill out a new MPN.

 

I feel for those FA people - what a pain in the butt, especially since she said that only 2 of them in the office are able to process loans.

[Saturngoddess]

I just got an email back from Great Lakes - they received my MPN from the school, but not the certification (which the school sent last week). They gave me a fax number to have the school fax it to, then they said they would process my loan.

 

 

I am soooooooooo happpy :-).....

[Saria]

[Saturngoddess]

WooHoo...

 

I checked the Great Lakes website this morning...

 

They are processing my loans...

 

 

Monday morning is a good morning for me :-)..