Choosing a Lender through the school: benefits?

[MD13]

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Hi - for my school, I will have to select a lender from a list provided through some kind of loan service (tgslc.org) that the school has us go through.

In researching the various lenders, I am looking at their websites where they outline various benefits and then ask you to 'click here to apply for the loan'..Now, I will not need to apply for the loan through them, simply select their bank on the TGslc.org website. So my question is: Will I still be eligible for all the benefits outlined on the website, or is that only if you sign up online through the bank? I assume it's for everyone who gets the stafford loan, but just want to make sure so that I'm not wasting my time..

Speaking of which--did anyone happen to compile a list of (current) lender benefits comparing the various lending institutions?

 

[TMP-SMX]

There is no reason for a list anymore as the benefits are negligible. Discover is one of the only lenders with no origination fee. Keep in mind that even "promised" benefits are hardly that. They can remove the benefits at any time (and many lenders did just that last year).

Occasionally, a lender will give you a better deal if they are a preferred lender, but I can't imagine it is that great right now. Your best bet is getting the up front fees waived through Discover or any other lender through your loan service.

 

[MD13]

I see..thanks. Are any other lenders other than Discover offering no up-front fees? Any drawbacks to going with Discover?

 

[TMP-SMX]

I went with Discover for this past year. Everything seems fine. The loan servicer is Great Lakes so there's nothing special about it.