View Full Version : Ed-Invest vs. Personal Loans

02-06-2011, 02:07 AM
I just got accepted for May 2011 and cannot decide what to do about loans. So far, Ed-Invest sounds like a death trap. What is the typical interest rate? I've heard 10-12%. Does interest start accruing as soon as you're in school, or does it wait till you've graduated?

These are my options at the moment, and I need help deciding which way to go...

1) Go through with Ed-Invest and their super-high interest rates.
2) Take out a personal loan in the US (though rates are still higher than US student loans) and ask my parents to help me with repayment while I'm in school. This is also to build credit, in case we get Stafford loans soon. But if we do get Stafford loans, will this hinder my perceived "need" for loans, since they'll see that I've been paying off the personal loan each month during school?
3) Borrow money from my parents and pay out-of-pocket the whole way.


02-06-2011, 06:51 AM
I go with national loan, ED-Invest charges way too much

02-06-2011, 07:59 PM
What is the website for national loan? Im not sure if I'm looking at the correct websites when I type it into google.

02-07-2011, 11:47 PM
Wait, what is national loan? Is that an actual lender, or are you just saying I should go with a personal loan from a US bank?

02-25-2011, 11:35 AM
I go with national loan, ED-Invest charges way too much

Soniaa...what's a 'national loan' ?:confused:

...also, what banks are some of u current students getting ur personal loans from? (interest rates as well if u don't mind)


02-25-2011, 03:05 PM
I go with national loan, ED-Invest charges way too much

I think the point was just not to go with Ed-Invest. That is a last resort option. Its like borrowing cash from mob; between the enforcers and the vig, it is just not worth it.

05-11-2011, 08:17 PM
Do they lend to Canadians?

05-20-2011, 10:11 PM
I don't think there is any other options available for us, "Sabans". I have been researching this issue for a while. I have been accepted at Saba for Fall 2011.
I have tried Wells Fargo, Bank of america, credit union, Sallie Mae, etc and nobody loans for Saba University.

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