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  1. #1
    bravelilbucket is offline Newbie 510 points
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    Ed-Invest vs. Personal Loans

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    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.

    HELP!!!
    Last edited by bravelilbucket; 02-06-2011 at 02:10 AM.

  2. #2
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    soniaa is offline Senior Member 689 points
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    I go with national loan, ED-Invest charges way too much

  3. #3
    smitty8484 is offline Newbie 510 points
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    What is the website for national loan? Im not sure if I'm looking at the correct websites when I type it into google.

  4. #4
    bravelilbucket is offline Newbie 510 points
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    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?

  5. #5
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    doctaaa is offline Junior Member 511 points
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    Quote Originally Posted by soniaa View Post
    I go with national loan, ED-Invest charges way too much
    Soniaa...what's a 'national loan' ?

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

    thanks

  6. #6
    GADoctor is offline Member 512 points
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    Quote Originally Posted by soniaa View Post
    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.

  7. #7
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    thejosh is offline Junior Member 510 points
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    Do they lend to Canadians?

  8. #8
    shirajlights is offline Junior Member 510 points
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    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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