Private Lenders

[MALOKINMARTIN]

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Does anyone out there have any advice on private loans (Bank of America/Keybank etc.)? I need to come up with 35,000 in two months and there are so many private lenders/rates out there! Yikes! Anyone been burned by a lender? Anyone found an awesome fixed rate? (Note: This is above federal loans and military service does not interest me.)

Thank you

P.s. I would have posted this on the Financial Aid blog but I wanted replies specifically from dental students.

 

[mr_gestapito]

www.teri.org

Does anyone out there have any advice on private loans (Bank of America/Keybank etc.)? I need to come up with 35,000 in two months and there are so many private lenders/rates out there! Yikes! Anyone been burned by a lender? Anyone found an awesome fixed rate? (Note: This is above federal loans and military service does not interest me.)

Thank you

P.s. I would have posted this on the Financial Aid blog but I wanted replies specifically from dental students.

 

[I'mFillingFine]

I can't speak for other schools, but Buffalo has a list of "preferred lenders". These are banks who trust the annual expected budget that Buffalo recommends and they just "fill" the rest of your loan after you get all your government aid. So you type in what you haven't received yet, and they'll tell you if you qualify on your own, need a co-signer, or are denied. It's great since they're more likely to approve you than a bank who hasn't heard of Buffalo dental, but there's only 5 to choose from, so you don't get to pick and choose as much.

I went for Access Group because they were the only ones who guaranteed deferment for any residency or specialty (others would but only for med students! lame). That was more important to me than a few fragments of an interest rate, since it could make a huge difference as I choose what to do after dental school.

So choose your priorities....interest, deferment, if they know the school, friendliness, good checking/savings accounts if you want all your finances in one place, repayment options, etc. etc. and then choose from whoever best meets your criteria! 🙂