Borrowers must choose their own lender. The Texas Tech University lender list includes lenders that have been evaluated by the Office of Student Financial Aid at Texas Tech University using criteria we deem appropriate and valuable to consider when borrowing a student loan. You may choose any lender that participates in the Federal Family Education Loan Programs, whether they are included on the lender list or not.

Before making the decision to borrow, students and parents should review the following guidelines:

• Lenders are evaluated annually to be included on the lender list.
• Texas Tech University does not receive any benefits in exchange for placing a lender on the lender list.
• A student or parent borrower may select any lender and is not restricted to the lenders presented on the Texas Tech University lender list. A borrower should not be directed to any specific lender by the University.
• A student or parent has the right to cancel their student loan, in part or in full. The request for cancellation must be submitted in writing to the Texas Tech University Student Financial Aid Office.
• Lenders may retain the borrower's loan while in school and throughout the repayment period; other lenders may sell loans on the secondary market. In order to determine which practice a lender engages in the borrower should contact the lender.
• Alternative Educational Loans provide additional educational funding options but generally have higher, variable interest rates as well as different repayment terms and options. Potential borrowers should carefully compare all loan terms and conditions.