Some of the criteria established by the NASFAA Monograph include: loan cost, quality of customer service, problem resolution (responsiveness to complaints), lender default rates and lender default aversion efforts (including early intervention), ease of loan certification process, 24/7/365 availability to borrowers, disbursement
flexibility, loan products offered (Stafford Loan,
Parent PLUS Loan, Grad PLUS Loan, Private Student Loan, Consolidation Loan), borrower preferences for national and local lenders, life of loan servicing, entrance and exit counseling,
financial literacy and debt management counseling, clarity and accuracy of lender marketing materials and web site, protection of borrower privacy, response time for processing loan applications, and quality of lender toll free telephone numbers and call centers (e.g., hold times and complexity of phone menus).