LOANS::: MEFA.com vs Salliemae.com

Started by vietricester
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vietricester

vietricester

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Which is better? After exploring all the options, i believe MEFA is the one of the better ones out there. They offer 7-7.5% apr ... which is much better than 8% on the signature loan programs. Not only that, you probably know that the interest is capitalized if u dont pay off anything while in school and a slight percentage diffference (.5%) from Sallie Mae to MEFA can make an AMAZING difference. RIGHT?
 
You also need to consider what interest rate reductions they offer while you are in repayment. Are those just the rates you got off their website, or what you've qualified for?
 
I would not go with Sallie Mae unless I had no other options(and even then it would be a difficult decision). Made the mistake for one year's worth of loans. Their customer service is anything but; and even my financial aid department mentioned that they've heard of alot of issues with Sallie Mae.
Not sure about signature loans per se, but northstar.org offers some really good repayment deals with the regular stafford loans.
 
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