Student Loans

Thank you for your interest in the Independence Federal Savings Bank Student Loan Program.

In September 2009 we established a partnership program with Sallie Mae for The Sallie Mae Smart Option Student Loan. This exciting new private educational funding source is described in the box and links below.

On December 31, 2008, as a result of legislative changes and market conditions, Independence Federal Savings Bank found it necessary to bring its long history of providing federally guaranteed student loans to a close. Accordingly, we stopped accepting applications for new Federal Stafford (subsidized and unsubsidized), PLUS, and Grad PLUS Loans, under the Federal Family Education Loan Program (FFELP).

If you would like to apply for such a loan, please contact your college or university's financial aid office.

The loan servicers for Independence Federal Savings Bank loans that were funded prior to 2009 include the Student Loan Marketing Association (Sallie Mae) and Great Lakes Educational Loan Services. A servicer is a company that has a contract with a lender to administer its loan portfolio. Any questions you may have about existing Independence Federal Savings Bank loans that were funded prior to 2009 can be answered by our servicing partners. Their contact information follows:

• Student Loan Marketing Association (Sallie Mae)
  --->1-800-2Sallie (888-272-5543)
  www.salliemae.com
  
  
• Great Lakes Educational Loan Services, Inc.
  --->800-236-4300
  www.mygreatlakes.org