Experiences with Northstar/T.H.E.?

[jennie 21]

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Hi, I'm just wondering if anyone out there has borrowed from Northstar (THE) and if so what your experience with them has been. My husband and I realized that we could save almost $3,000 a year over Nellie Mae by switching to Northstar because Nellie Mae has a 3% origination fee, Northstar is 0%...but since it's not one of our school's recommended lenders or whatever (they only recommend Nellie Mae, for some reason) we're a little worried about going with them. I guess the main thing we're concerned about is what if it takes a really long time after signing the master promissory note to get the money and we can't pay our tuition? How long did it take you to receive the money from Northstar, after you signed your MPN? Did you experience any problems with them? Thanks a lot for your help.

 

[beriberi]

they are the only lender recommended by my school and they are great. Fast money, great service everytime I have called.

I think it is terrible that your school would recommend someone with a 3% origination fee.

 

[chameleonknight]

I used them this year and had zero problems. They seem to have a good reputation.

 

[ubiquitous]

I've had a loan with them for a few years and have had absolutely no problems. They have good rates and very good customer service! 🙂

 

[LukeWhite]

Same. I've never had to really worry about doing anything with them, which is perfect. No costs, no hassle--they're fantastic.

 

[jennie 21]

Thanks everyone for your responses. One more question--how does it work with getting the money? Do they send it directly to your school, or do they send it to you, or what? Last year I borrowed through Nellie Mae and it seemed like they just automatically sent it to the school, but I don't know if my school has special arrangements with them (since they're the recommended lender) or if that's the way it works with all the companies. Thanks.

 

[LukeWhite]

Jennie,

They should still send it directly to the school, with any extra from the school to you.

Good luck with the year!

 

[jennie 21]

Thanks for the information, Luke. I think we're going to go ahead with Northstar. Thanks to everyone who responded!

 

[Taurus]

I've had really good experience too. Having no fees is great.