Federal Student Loan Program- Call the CLC hotline?

Paying for College
1

<p>Did anyone get a letter that states to “call the CLC student loan hotline to determine your current options”? </p>

<p>It then states that the office will “determine and certify eligibility for the Federal Family Education Loan Program”.</p>

<p>Could someone please provide more information about the “Federal Family Education Loan Program”, and why we have to call their hotline? Has anyone called it <the hotline=“”>?</the></p>

2

<p>Your school will determine your federal loan eligibility based on FAFSA. This is probably some private loan company - we have had several similar letters from different companies. They go in the trash.</p>

3

<p>the FFELP is just the federal law or program that allows colleges to send students or parents to private lenders for their federally backed loans. I’m guessing CLC probably stands for College Loan Corp., which is a private, for-profit company. This sounds like a marketing letter encouraging you to call CLC and apply for a loan. There are lots of other lenders who will be just as happy to lend you money.</p>

4

<p>So is this not a good company?</p>

5

<p>BabyBlue,</p>

<p>If the CLC in your letter is College Loan Corp…then it is a VERY reputable company…BUT the letter is nothing more than advertising. As a Financial Aid Counselor, I have had many professional dealings with College Loan Corp issued Student Loans and many on their staff, setting up, issuing, problem-solving loans for former, current and future students.</p>

<p>BUT…as I already said, the letter you received, of which I have gotten a few myself, is nothing more than advertising.</p>