PDA

View Full Version : Which Lender to pick???

wao99
07-04-2008, 02:43 PM
Hey Everyone,

I was just wondering which lender would be the best to pick.

Is there any way to get a lower interest rate?

Regards

Ao
BiologyBY
07-04-2008, 02:53 PM
You have to do research what fits your needs best. Two biggest ones are sallie mae and citibank
lsmith55uf
07-04-2008, 05:21 PM
I did a lot of research and, there really isn't much difference b/t the 2. I ended up going with Sallie Mae, b/c they were the largest and seemed to have a good rep. I actually would recommend Citibank, as they just recently started offering some payback incentives (came out after I applied). Look at their website.

Either one will get you what you need, we're gonna be in a lot of debt...
wao99
07-05-2008, 10:33 AM
Is it necessary to co-sign the PLUS loan with a parent?
lsmith55uf
07-05-2008, 02:08 PM
It's not necessary. Depends on your credit.
rocketinpocket
07-06-2008, 10:52 AM
Hey Everyone,

I was just wondering which lender would be the best to pick.

Is there any way to get a lower interest rate?

Regards

Ao


In the end you owe a %@#(# load of money to some #@$#@ company. It doesn't make all that much difference.
lsmith55uf
07-08-2008, 10:44 AM
Well said...
Lemacfar
07-08-2008, 11:25 AM
I choose Bank of America because I'm a checking customer and they offer a .25% reduction... which most banks offer for their customers....
oblomov
07-09-2008, 01:44 AM
I went with Wachovia, since they are offering a Grad Plus reduction to 7.9% that starts at disbursement. All the others' reductions seem to start when when you enter repayment. Since there is a caveat that the incentives can be discontinued whenever the lender feels like it, there's probably an excellent chance that us folk just about to start will never see these lower rates.
fortima
07-15-2008, 08:25 PM
bank of america has the sweet 0.25% interest reduction....but they dont offer private loans at this time, that blows.

citibank it is.
Arkie
07-15-2008, 08:52 PM
Is Grad Plus a private loan?
HopefulMD21
07-15-2008, 10:05 PM
Is Grad Plus a private loan?

No, it is a federal backed loan, except that it is credit-based, which makes sense because unlike Stafford there is no set limit except to the cost of attendance. These loans (Stafford and Grad PLUS) are financed by the various banks and simply guaranteed to those banks by the government. But no, they are not private in the sense that relates to us...