Financial Aid LENDERS

[RSXer]

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Okay, this is my first time dealing with loans, so I'm in the process of choosing a LENDER for my Stafford Loans for dental school. It was a bit overwhelming at first, but after reading up on the process and a good overview from SDN's Loan page , I feel a bit more comfortable with the subject.

But, I wanted to see what all of your thoughts are on the various LENDERS that are out there. Please post your comments on the LENDER you've chosen. Why did you choos them? Why didn't you choose ____ LENDER?

interest rate?
hidden fees?
when's repayment start?
initiation costs?
when do they capitalize?
anything else you think is worth noting?

Thansk all. I hope to get a good response here 'cause I'm sure it will be really helpful for the rest of us who are ready to choose who we'll owe all of our hard-earned money to. 🙂

~PJ

 

[RSXer]

33 views and no responses yet? I guess everyone going to dental school this year is paying out of pocket or got full scholarships. 😉 c'mon...anyone?

 

[KyGrlDr2B]

This had been discussed at length in the financial aid forum. There is also a link in the sticky at the top of the page that leads to a chart which compares several lenders. Granted, these are not all of the lenders, but some. I'll move this thread over there....

 

[StarGirl]

i think the two most popular ones are THE (forgot what it stands for) and Access Group...

 

[RSXer]

Originally posted by KyGrlDr2B
This had been discussed at length in the financial aid forum. There is also a link in the sticky at the top of the page that leads to a chart which compares several lenders. Granted, these are not all of the lenders, but some. I'll move this thread over there....

In the year and a half that I've been reading posts here, I've never ventured outside of the pre-dental forum....lol. I just hav a bookmark that takes me directly to the pre-dent forum so I never get a chance to look at what other forums are here....Never even knew there was a Financial Aid forum. Thanks for the heads up! 🙂

 

[KyGrlDr2B]

Originally posted by RSXer
In the year and a half that I've been reading posts here, I've never ventured outside of the pre-dental forum....lol. I just hav a bookmark that takes me directly to the pre-dent forum so I never get a chance to look at what other forums are here....Never even knew there was a Financial Aid forum. Thanks for the heads up! 🙂

LOL! Well, welcome to the wonderful world of the financial aid forum! BTW, many of those links are linked to the server we usually use (but aren't right now while they work on it), so don't freak out if some don't work. good luck!

 

[pongebob]

I am using Bank of America for the loans this year. They don't charge you for the 3% origination fee.

 

[RSXer]

Thanks for the replies. Although it looks like T.H.E. and Access look like the best values judging by that Tulane spreadsheet and the T.H.E. website. Of these, 2 which would you pick?

 

[smile_doctor]

RSXer:

Take a look at U Maryland as a lender for your Stafford loans. They don't charge origination or guaranty fees and a portion of the interest made on the loans goes to fund grants to U Maryland students. Look forward to meeting you in August.

 

[RSXer]

Originally posted by smile_doctor
RSXer:

Take a look at U Maryland as a lender for your Stafford loans. They don't charge origination or guaranty fees and a portion of the interest made on the loans goes to fund grants to U Maryland students. Look forward to meeting you in August.

Hey! Thanks or pointing this one out to me. I just glanced over that list of preferred lenders they gave us. I wonder what kind of discounts they give during repayment? I'll call up Fin Aid today and ask them.

Look forward to seeing you too smile-doc! I just called my oral surgeon who took out my wisdoms couple of months ago to see if he can hook me up with a jar of teeth. woohoo! 😉

~PJ

 

[RSXer]

Smile_Doc. Just an FYI: I called UMB Fin AID and they gave me the breakdown of discounts during repayment:

After 24 on-time payments - 1% reduction in interest rate
After 48 on-time payments - 2% reduction in interest rate
0.25% reduction in interst rate for automatic payments.

Correct me if I'm wrong but this sounds like a great deal!! Not to mention that our money from premiums goes right back to the school. Looks like I found myself a lender 🙂