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Financial Aid Lenders

Discussion in 'Medical Students - MD' started by kelisita, Jun 6, 2001.

  1. kelisita

    kelisita Junior Member 7+ Year Member

    May 28, 2001
    I was wondering if anyone could give me advice on choosing a lender. I have narrowed down my schools preferred lenders list to two choices US Bank or Medloans. US Bank's benefits include no guarantee fee, 1/4% interest for autopay, 2% interest rate reduction after 48 payments, rebate of 3% origination fee after 24 payments and rebate of five months interest on unsubsidized stafford loan after the 2001-2002 school year. I have read over the information on Medloans but am confused at how it compares. If anyone could provide insight I would really appreciate it.
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  3. kelisita

    kelisita Junior Member 7+ Year Member

    May 28, 2001
    Thanks for the help.
  4. cavaor

    cavaor Member 10+ Year Member

    May 14, 2001
    Make sure you have a choice. I was informed by my financial aid office that I do not have a choice. I have to use the school's.
  5. joojoobeware

    joojoobeware Member 7+ Year Member

    May 8, 2001
    Arlington, VA
    I went with T.H.E.'s stafford loan.
    I hope i made the right choice. They seemed like they had the best plan and incentives out there.
  6. Dreamer

    Dreamer Senior Member 10+ Year Member

    Apr 12, 2001
    I agree, go to T.H.E. You can find them at, if I remember the webpage correctly. If I am not istaken tehy do not charge you distribution fee.
  7. docuw

    docuw Senior Member 10+ Year Member

    Feb 6, 2001
    The best ones to go with (in my opinion) are the ones with 0% Origination Fee. MedCAP (Wells Fargo) and THE (Northstar) offer this. I went with MedCAP because they were on my prefered lender list.
    My school simply uses that prefered list because they know how to deal with those banks.

    The 0% orig fee is nice because you save that 3% off the bat, when you really need the money. So on $38,500 (max Sub/Unsub) you dont have that $1155 taken away when you really need it (during school).

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