1-RFI 721-26048 - Lender List.pdf

Request for Information

RFI No. 721-26048

Financial Aid Providers for Lender List

PROCUREMENT OFFICER:

Erin Salcher

REQUEST FOR INFORMATION IS DUE IN THE UNIVERSITY EUNA (PREVIOUSLY BONFIRE) PORTAL SHOWN BELOW NO

LATER THAN:

Monday, April 27th 2026 by 2:30 PM CST https://utexas.bonfirehub.com/portal/?tab=openOpportunities https://utexas.bonfirehub.com/portal/?tab=openOpportunities

Section 1 – Background The University of Texas at Austin (“University”), established September 15, 1883, is the flagship public research institution of the University of Texas System. University serves over 50,000 students and is supported by more than 24,000 faculty and staff. The mission of The University of Texas at Austin is to achieve excellence in the interrelated areas of undergraduate education, graduate education, research and public service.

Students at UT Austin benefit from a wide range of academic options, with over 160 fields of study and more than 100 majors available and enjoy access to extensive technology resources and one of the nation’s largest academic libraries. The university is committed to transforming lives through learning, discovery, and leadership.

Section 2 - Purpose of Request for Information University is issuing this Request for Information (RFI) to explore opportunities to a “private lender list” to include private educational loan lenders who offer competitive and student-centered loan products. This effort is part of the University's broader commitment to financial access, affordability, and transparency in financing options for our diverse population of students and families.

We are currently gathering information about lenders who serve undergraduate students, graduate students (including those in law, medical, and online programs), and parents of undergraduate students. Our goal is to understand lender terms and create a Private Lender List that will be linked publicly from a University website.

In accordance with the Truth in Lending Act (TILA) and the Higher Education Act (HEA), University will continue to process private student loan applications for any lender selected by the borrower and will not restrict certification to any particular lender.

Section 3 - Inquiry Only This RFI is for information-gathering only. It does not represent a solicitation for bids or a commitment to enter a formal partnership. Further, University will not be entering into any agreements with any possible Lenders. Any future decisions about identifying lending partners will follow applicable federal and institutional guidelines and will be made with transparency and borrower choice at the forefront.

University will not provide compensation to any respondent to this RFI for any expenses incurred by respondent for response preparation. Respondent submits its response at its own risk and expense. All responses to this RFI and any supporting documentation will become the property of University.

University considers all information, documentation, and other materials requested to be submitted in response to this RFI to be of a non-confidential and/or non-proprietary nature and, therefore, may be subject to public disclosure under the Texas Public Information Act (Texas Government Code, Chapter 552.001, et seq.). Respondents are hereby notified that University strictly adheres to all statutes, court decisions and opinions of the Texas Attorney General with respect to disclosure of public information.

Section 4 – Annual Disclosure of Private Lender List Methodology The institution shall publish an annual disclosure, available on its website and in relevant institutional publications, detailing the methodology used to develop and maintain the Private Lender List. This disclosure will identify all evaluation criteria applied in the selection process, including, but not limited to:

a. Borrower benefits or incentives offered by the lender;

b. Borrower eligibility requirements for receiving student loan funds;

c. Student loan interest rates and associated student loan repayment terms;

d. Student loan servicing quality and reliability;

e. Student loan processing system(s) and technological capabilities;

f. Lender history, performance, and service record;

g. Deferment and forbearance options including availability and terms;

h. Lender’s capacity to process student loan applications, school certifications, and disburse funds electronically;

i. Absence of origination fees or any other fees deducted from student loan proceeds.

A lender must meet all criteria below to be included on the list. If any item is not met, the lender is not eligible for further review.

a. No origination, disbursement, or other fees deducted from student loan proceeds.

b. All student loan products must offer a minimum interest rate ≤ 7.99% at the time the lender list is published.

c. Must provide deferment and forbearance options for borrowers experiencing financial difficulty.

d. Must maintain a Borrower Services Center with timely access to account information and support.

e. Must support full electronic processing for:

i. Student loan application

ii. School certification

iii. Funds disbursement

The institution shall also affirm within the disclosure that students and families retain full and unrestricted borrower choice and are not required to select a lender from the Private Lender List. The Private Lender List and its underlying methodology shall be reviewed and updated annually on the website to ensure continued accuracy, fairness, and responsiveness to borrower needs. The website will identify when the Preferred Lender List was last updated. Lenders may be removed from the list at the sole discretion of the University at any time.

Section 5 - Scope The University of Texas at Austin enrolls students across a wide range of academic programs and delivery formats. We are seeking information from lenders who support borrowing for the following populations:

a. Undergraduate Students: including first-generation, dependent, and independent borrowers

b. Parents of Undergraduate Students: those who borrow to assist their child with college costs

c. Graduate and Professional Students: including those pursuing degrees in:

i. Business, Education, Engineering, and other traditional graduate programs

ii. Law School

iii. Medical School

iv. Online graduate programs in high-demand professional fields

University is particularly interested in lenders who can demonstrate flexibility in underwriting and repayment options that reflect the different financial circumstances of these populations, including students who do not have co-signers, international students, non-degree seeking students, certificate-seeking students, and those enrolled less than full-time.

Section 6 – Response In response to this RFI, please provide a PDF document with the following information (NOTE: each item should be individually addressed):

Student Loan Program Offerings Please provide a description of each type of student loan product available for:

• Undergraduate student borrowers

• Parents of undergraduate students

• Graduate student borrowers (including law, medical, and online students)

• Indicate whether different terms, features, or eligibility criteria apply to specific academic levels or programs.

Student Loan Terms and Conditions We seek to understand the competitiveness of your student loan products. Please include details on:

• Fixed and variable interest rate ranges

• Origination, disbursement, or other associated fees

• Repayment period options (e.g., 5, 10, 15 years)

• In-school and grace period terms

• Available borrower benefits (e.g., interest rate reductions for autopay)

• Annual and aggregate student loan limits

Please indicate if any of these terms differ for the University of Texas at Austin borrowers or for specific programs (such as medical school).

Borrower Eligibility and Approval Criteria Describe your underwriting approach, especially regarding:

• The availability of student loans without a co-signer, and under what conditions

• Requirements related to credit score, income, or debt-to-income ratios

• Options for non-citizen borrowers, including international or DACA students

• Historical approval rates for borrowers from similar institutions

Repayment Plans and Flexibility We recognize the importance of repayment flexibility in helping students succeed financially post-graduation. Please outline:

• Types of repayment plans available (e.g., deferred, interest-only, immediate)

• Grace periods and options for forbearance or deferment

• Availability of hardship or income-sensitive repayment options, including a death or disability benefit

• Special programs for medical, law, or graduate borrowers entering public service or residency

Competitive Comparison Please describe how your student loan products and terms for the University of Texas at Austin students compare with your general offerings to students at other institutions. Specifically:

• Do student borrowers at University have access to better terms?

• Are there institutional-specific underwriting or risk assessments?

• What sets your offerings apart in the private student loan marketplace?

Quantitative data and summary tables are welcome in this section.

Customer Service, Support, and Technology A strong borrower experience is a priority. Please share:

• Information on customer support availability (hours, language access, online support)

• Tools available to students and families (e.g., calculators, mobile apps)

• Can your student loans be certified using an online private student loan certification platform? If so, please list.

• Dedicated school support team structure, if applicable

Ethics, Compliance, and Transparency Provide a brief summary of your commitment to regulatory compliance, specifically:

• Affirmation of compliance with TILA, HEA, and related federal regulations

• Statement of adherence to conflict-of-interest policies and prohibition of inducements

• How you ensure ethical communication with students and schools

Section 7 - Submittal Instructions Respondents should provide detailed information on the requested areas to ensure a full evaluation of their offerings.

Wherever possible, we encourage comparative data (e.g., terms for University borrowers vs. general terms for any other student borrower).

The following dates may be modified, as needed, to assure adequate time for responses.

Responses Due: Monday, April 27th 2026 by 2:30 pm Responses must be submitted in the University Bonfire Portal

Respondent should acknowledge (Bonfire requirement) agreement with the University Terms and Conditions.

Note: University is not requesting a proposal, detailed plans, budgetary information, or proprietary information in response to this RFI.

Section 8 – Evaluation of Responses

This RFI is intended solely for the purpose of gathering information. It does not constitute a solicitation, promise to contract, or commitment to include any respondent in future procurement processes. University will not be entering into an agreement with any respondent.

All responses will be reviewed by appropriate University personnel and may be used to inform the development of a preferred lender list in accordance with federal and institutional guidelines. However, University reserves the right to make no selections or take no further action based on the RFI.

Your interest in providing information to support the students and families of the University is sincerely appreciated, and your commitment to responsible lending is an important part of advancing educational access.

https://afm.utexas.edu/hbp/part-7/11-4-university-terms-and-conditions