Nellie Mae vs. Sallie Mae

[sms25]

I'm looking for an alternative loan for school because the federal loan just won't cut it. I've looked at several options and I've come across a GradPlus loan offered by Nellie Mae and a Graduate Plus by Sallie Mae. I was wondering if anyone has used either company and if one is better than the other. The loans seem pretty similar to me and I'm trying to decide which to apply for (or if there's a better company out there). Any input would be greatly appreciated, since this whole private loan thing is new to me.

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[2Bsure]

Nellie Mae is a subsidiary of Sally Mae so I don't know how the interest rates and terms of loans they offer would be substantially different.

 

[sms25]

Nellie Mae is a subsidiary of Sally Mae so I don't know how the interest rates and terms of loans they offer would be substantially different.

I was not aware of that. It didn't really look like there was a big difference. Thanks.

 

[kate_g]

There's a whole SDN forum on financial aid, you might want to check that out - be forewarned, though, that there's a *lot* of information and there are a *lot* of choices for getting loans beyond the federal amounts, and the people on that forum deal with some pretty complicated stuff. So if you want a simple answer and are happy with the Sallie/Nellie option, it might actually be best *not* to go look at the fin. aid forum... 🙂