Campus Door?

[adpitan]

Does anyone have any experience/loans from Campus Door? They seem really good, well except for that whole loan origination fee that maybe charged. They are a member of the BBB and don't require a FAFSA. You can borrow as much as you need, there is a lifetime cap of $120K.

Any thoughts?

Thanks!

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[mpp]

If you are not completing a FAFSA then you are getting a private loan so terms will be set by them not the federal government. They can charge whatever interest they want and you may not qualify for deferment and/or consolidation.

For any federal loans you must complete the FAFSA although you can choose any lender you want.

 

[adpitan]

Thanks but I do realize it's a private loan. I was just wondering if anyone has taken a loan with them or if anyone has had any experience dealing with them whether it's positive or negative.

 

[Febrifuge]

In my day-job, I work for a school that used to work with CD. We found it interesting that although CD offered a 3% origination fee option and a 7% option, every person who applied seemed to get the monstrous 7% fee.

We have a list of about 10 or 15 other non-fed loans that we work with, and our students must choose off that list. Maybe your school has something similar?

 

[adpitan]

In my day-job, I work for a school that used to work with CD. We found it interesting that although CD offered a 3% origination fee option and a 7% option, every person who applied seemed to get the monstrous 7% fee.

We have a list of about 10 or 15 other non-fed loans that we work with, and our students must choose off that list. Maybe your school has something similar?

Thanks! I couldn't get anyone to tell me how they determined who got the 7% fee. I opted for good ol' Sallie Mae and even though there are fees which I am not thrilled about I am thrilled that I can get what I want & the school doesn't have to certify the amount, only that I attend. 🙂

 

[auriclle]

Really? Would you please post a little bit more about that loan? I checked the website and they have the standard "cost of education minus other financial aid." I need a tiny bit more than what my school says I'll need. If Sallie Mae only verifies that you attend, that's good news.

 

[adpitan]

Really? Would you please post a little bit more about that loan? I checked the website and they have the standard "cost of education minus other financial aid." I need a tiny bit more than what my school says I'll need. If Sallie Mae only verifies that you attend, that's good news.

If you're asking about Sallie Mae (sorry, really tired & my allergies are making it difficult to see clearly) then I am referring to the Tuition Answer Loan. http://www.salliemae.com/tuitionanswer/index.html?ink=f_name_tuitionanswer

Hopefully this helps