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DoctaJay

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Hey everyone. I am filling out the finaid form for loma linda, and they asked me which of their perferred lenders I would like to use for my stafford loans. I've never borrowed before, so attached is the comparison table (in pdf format) they gave me. I'm specifically confused about the rows:

repayment benefit
best credit history
most other borrowers
interest rate basis
 

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BigKurz

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A quick glance seems, to me, to favor the first lender. That being said, this money is all ultimately coming from the government, so terms will be nearly the same.

The one on the left seems to have lower interest rates, perhaps only if your credit allows. How is your credit/do you have any?
 

DoctaJay

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Yeah I was leaning to the one of the left too. My credit is pretty good. I have a score of 707, but I don't really have any major purchases except for a laptop, engagement ring, and wedding bands.
 
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BigKurz

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I'd stick with that one then...no real reason to go with the one on the right. For self assurance, you may wanna play around the the numbers and see what kind of difference you're looking at between interest "credit" and the interest rate deduction. It's probably neglible, but I would just do it.
 

gaikokujin

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Hey everyone. I am filling out the finaid form for loma linda, and they asked me which of their perferred lenders I would like to use for my stafford loans. I've never borrowed before, so attached is the comparison table (in pdf format) they gave me. I'm specifically confused about the rows:

repayment benefit
best credit history
most other borrowers
interest rate basis

I use T.H.E. and i like them. I always get my money on time (at the beginning of the semester) and when i have a question, they always answer the phone promptly and nicely! Not all loan companies are created equal. I have some friends who have had a lot of problems getting their loan money really late (like a semester late) from their lenders.
 

tiredmom

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I used T.H.E. also and have been really pleased. Something to consider which I didn't know, was that if you use the same lender for all your student loans, when you go to consolidate, you can only go through that lender. Luckily, THE also had the best plan there for my needs. Their customer service people were really friendly and quick to help when I did my consolidation too!
 
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