Which financial institutions are the best for college student loans?
I have to choose a lender for my financial aid student loan offered, and do not know which one of eight lenders to choose from. HELP!!!
It's important to do some research and select a lender who is reputable and will service your loans after you're out of school. Some good questions to ask include:
-How long have you been in student loans?
-Are you a financially secure company?
-Who services your loans?
-Who guarantees your loans?
-Who performs customer service for you?
-What kind of training or qualifications do they have?
-Do you certify your compliance with applicable regulations? -Where? May I get a copy?
-Do you charge an origination fee?
-Do you charge a default aversion fee?
-If you rebate the loan fees, when and based on what principal amount?
-How do I earn any interest rate or fee reductions?
-When do I earn any interest rate or fee reductions? Is your rate reduction immediate? Is your fee reduction immediate?
-Do I have to do anything to keep my benefits?
-Do I lose any benefits if I make one late payment? Do I lose those benefits forever?
-What happens to my eligibility for benefits if I consolidate my loans?
-Do I have to repay earned benefits if I consolidate my loans with another lender?
-Where do you disclose the terms and conditions for your loan discounts and benefits? Will you provide/confirm the terms and conditions in writing?
This entry was posted on Monday, November 3rd, 2008 at 12:00 am and is filed under college student loans. Follow the comments through the RSS 2.0 feed. You can post a comment, or leave a trackback.
get financial aid. Milk the darn gov't 4 all it's worth…they do us so it's only fair
References :
November 22nd, 2008 at 1:42 pm
I've heard Wachovia is pretty good.
http://www.wachovia.com/personal
References :
November 22nd, 2008 at 2:04 pm
It's important to do some research and select a lender who is reputable and will service your loans after you're out of school. Some good questions to ask include:
-How long have you been in student loans?
-Are you a financially secure company?
-Who services your loans?
-Who guarantees your loans?
-Who performs customer service for you?
-What kind of training or qualifications do they have?
-Do you certify your compliance with applicable regulations? -Where? May I get a copy?
-Do you charge an origination fee?
-Do you charge a default aversion fee?
-If you rebate the loan fees, when and based on what principal amount?
-How do I earn any interest rate or fee reductions?
-When do I earn any interest rate or fee reductions? Is your rate reduction immediate? Is your fee reduction immediate?
-Do I have to do anything to keep my benefits?
-Do I lose any benefits if I make one late payment? Do I lose those benefits forever?
-What happens to my eligibility for benefits if I consolidate my loans?
-Do I have to repay earned benefits if I consolidate my loans with another lender?
-Where do you disclose the terms and conditions for your loan discounts and benefits? Will you provide/confirm the terms and conditions in writing?
References :
http://www.salliemae.com/get_student_loan/apply_student_loan/application/select_lender/lender_questions.htm
November 22nd, 2008 at 2:12 pm