hey guys,
could someone help explain how the various special benefits/incentives tend to stack up? i'll be taking out the full $38,500 in stafford loans each year (unless there is some cap that prevents me from doing that fourth year), plan to begin repayment in residency, and am the type of person who will make 100% of my payments on time. from that chart, some of the benefits are:
*1 percent fee rebate (zero guarantee fee) on Stafford loans.
* 0% interest for the first year of your unsubsidized Stafford Loan.
* AMS will invest the 3% loan origination fees that have been paid into a Personal Investment Account in the borrower's name. The investment will be made in three equal installments: 1% at graduation, 1% when repayment begins, and 1% twelve months after repayment begins.
* Students will receive an automatic 0.5% interest rate reduction after 36 consecutive on-time payments and a 0.25% interest rate reduction for automatic withdrawal.
*0.25 % reduction in the interest rate for debit from a checking or savings account
* 2.00 % interest rate reduction after 48 monthly on-time payments
*1 percent fee rebate (zero guarantee fee) on Stafford loans
* Student borrowers receive 3.3% - cash or credit- based on the original principal balance of each Stafford loan disbursed through Bank One on or after July 1, 2002 and serviced by Sallie Mae. To qualify, students must 1) Make 33 initial payments on time, 2) Sign up for Internet Self-Service and 3) Agree to receive Sallie Mae account information at a valid e-mail address.
which of these would be the best deal if all payments are made on time?
