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Help! Anyone has T.H.E. loans?

Discussion in 'Financial Aid' started by nascentdoc, Apr 27, 2004.

  1. nascentdoc

    nascentdoc Senior Member
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    I've looked at several lenders and T.H.E. seems the best deal. I mean, no origination fee and 1.3% interest rate discount at repayment. Does that sound good to anyone else or are all lenders the same when it's all said and done. Thanks guys.
    nascent
     
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  3. mpp

    mpp SDN Moderator
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    All lenders are not quite the same, especially since you will likely be consolidating you loans before you begin repayment anyway so you may not use any of those fancy payback schemes. Choose a lender with no up-front fees like T.H.E., Access, NowLoans, MedCap, etc.
     
  4. Seaglass

    Seaglass Quantum Member
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    I've been using THE through med school and have nothing but good things to say. They've been great and the promise to never sell your loans. That's a nice perk in itself.

    C
     
  5. EM Junkie

    EM Junkie SDN Donor
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    Stay away from MedPreferred loans!! They lured me in with no origination fees and no guarantor fees, then they changed their terms before I had completed the application and started charging 3% origination fees!! That's like $1000 per year out of MY pocket!

    Luckily I caught the tricky Bast%#@s in time, and I switch to Access Group. They offer no origination fees and no guarantor fees depending on the guarantor your school uses. Mine was 0% too!

    Summary: NO MedPreferred, YES Access Group!!
     
  6. nascentdoc

    nascentdoc Senior Member
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    Hey,
    I didn't know that lenders could just decide to charge origination fees after they promise not to. Is your case an aberration or should I check with the lender to make sure that this is a permanent deal? Thanks guy.
    Peace
     
  7. EM Junkie

    EM Junkie SDN Donor
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    I think the deal was that I requested information and an app. in Jan. 2004. They sent me the info. for 2003-2004 school year, which advertised 0 fees. When the 2004-2005 stuff came out, there were suddenly fees (after my financial aid award was already in final processing). Same thing happened to me in my MS1 year. Damn lenders!

    Make sure to be aware of any changes year to year as well. Many of these lenders will offer no fees for 1 or 2 years to boost their market share, then start adding fees once they become established.

    I would call them and verify, and make sure you get the name of the person you talk to. Good luck!

    -Scott, MS2
     
  8. Homunculus

    Homunculus SDN Caveman Administrator
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    i used them. satisfied customer here :thumbup:
     

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