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If a medical school has no preferred lender, which one provides the best deal?
If a medical school has no preferred lender, which one provides the best deal for Stafford Loans based on interest rate reduction (most provide zero fees)?
FEDERAL STAFFORD LOANS
LENDER & LOAN PROGRAM, ORIGINATION FEE (MAXIMUM 2%,) DEFAULT PREVENTION FEE (MAXIMUM 1%), INTEREST RATE REDUCTION, PRINCIPAL BALANCE REDUCTIONS AND CONDITIONS
A Sallie Mae Company 0% 0% 0.5% after 36 on-time payments Interest paid on the first year of the first unsubsidized loan,
1.5% original principal balance reduction at repayment, Another 1.50% principal balance reduction after 12 months of repayment
BANK OF AMERICA
0% 0% 0.25% for auto debit Up to 3.0% for on-time payments
CHELA 0% 0% 1.50% if sum of loan balance is $7,500 or more 0.25% for auto debit
CITIBANK 0% 0% 0.25% for auto debit 1.0% after 36 on-time payments and an additional 1.0% at 48 on-time payments
0 payments for last 6 months of repayment
NELLIE MAE 0% 0% 3.3% credit after 33 on-time payments
WELLS FARGO 0% 0% 2.0% after 36 consecutive on-time payments 0.25% for auto debit
I'm not sure if all these lenders are availalble in every area, but hopefully this will give you a start. I tried to paste the link, but it didn't work. The web site cautions to contact the lenders and verify lending terms and information. Good luck.