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scrappydawg

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As a MSI in the Fall and having never fill out financial aid forms, does anyone have any advice/things that they wish they would've known to pass along?

Also how do you go about picking a stafford loan lender? I kinda like the AAMC Medloans, but that could be because I was taken in by their snazzy marketing fliers! What are somethings to consider when picking a lender?

Thanks
scrappy:confused:
 

XCanadianRagwee

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Originally posted by scrappydawg
As a MSI in the Fall and having never fill out financial aid forms, does anyone have any advice/things that they wish they would've known to pass along?

Also how do you go about picking a stafford loan lender? I kinda like the AAMC Medloans, but that could be because I was taken in by their snazzy marketing fliers! What are somethings to consider when picking a lender?

Thanks
scrappy:confused:

Do your taxes early, and make sure your parents do the same (if your school requires you to put down their info as well).
As for loan lenders, make sure you switch lenders at least once. Why? Because when you consolidate your loans you have to loan from two different places. The financial office will hate you for it, but for MSI pick one lender, then for MSII-IV pick another. Then you can go out and look for consolidation programs with the least amount of interest and other incentives.

As for picking lenders. Go for the ones with the most customer friendly support. Nothing will tick you off more if you can't get questions answered about your finances.
 

Amy B

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I am a bit confused. Do you have to pick your own lender? I know my schools does everything for us all we have to do is fill out our FASFA.
 
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Originally posted by Amy B
I am a bit confused. Do you have to pick your own lender? I know my schools does everything for us all we have to do is fill out our FASFA.

I think XCanadianRagwee is referring to private loans. Amy, are you referring to your stafford loans (which are loaned by the school itself with government money), or to private "extra" loans?
 

Amy B

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The school handles the gov stafford loans both sub and unsub and then we can get additional money ($7700 in private loans, plus $280 for before and after school child care also from private loans) The private loans do require us to have good credit, but the school sets everything up. Should I be worried about them handling everything?

Oh, and I agree about the early taxes!!!!!!!!! My school just sent out a email reminding folks if they estimated the taxes on the FAFSA, then they now have to fill in the correct amounts.
 

mpp

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Some schools are direct lenders and there is no choice. Other schools require you to pick a lender such as MedLoans, T.H.E., Access, etc.,, etc. There are many and they all have different terms. The financial aid department cannot choose one for you (although they can tell you which ones students have used in the past and which one are preferred) but you must pick one yourself.
 

Amy B

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Originally posted by mpp
Some schools are direct lenders and there is no choice. Other schools require you to pick a lender such as MedLoans, T.H.E., Access, etc.,, etc. There are many and they all have different terms. The financial aid department cannot choose one for you (although they can tell you which ones students have used in the past and which one are preferred) but you must pick one yourself.

Oh great, more things to deal with soon. I swear, there is definitely a huge amount of things to have to do between acceptance letters and the first day of school.
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