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Since it is FAFSA time again, I have found a disturbing trend about Stafford and GradPLUS lenders. Many private/public ones are suspending all loan applications and nearly all have eliminated discounts and incentives.
The one lender that still appears attractive is Direct Loans with the Dept of Ed. They still offer 1% rebates on Stafford and 1.5% on GradPLUS. In addition, from some legislative quirk or oversite, their GradPLUS loans are at 7.9% interest rates instead of 8.5%.
Both of the above can mean a lot of dollars saved. I took all this off the internet but has anyone else confirmed this info? Maybe with their schools?
It seems the GradPLUS interest rate discount is pretty good on its own but to add the rebate is awesome. I need to petition my school to use Direct Loans though, not sure what it will take.
Here are some links I used:
http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html
https://schools.dl.ed.gov/schools/school/jsp/general/incbenefits.jsp
The one lender that still appears attractive is Direct Loans with the Dept of Ed. They still offer 1% rebates on Stafford and 1.5% on GradPLUS. In addition, from some legislative quirk or oversite, their GradPLUS loans are at 7.9% interest rates instead of 8.5%.
Both of the above can mean a lot of dollars saved. I took all this off the internet but has anyone else confirmed this info? Maybe with their schools?
It seems the GradPLUS interest rate discount is pretty good on its own but to add the rebate is awesome. I need to petition my school to use Direct Loans though, not sure what it will take.
Here are some links I used:
http://www2.ed.gov/offices/OSFAP/DirectLoan/student.html
https://schools.dl.ed.gov/schools/school/jsp/general/incbenefits.jsp
