using different lenders for GradPlus and Stafford

[wanabdoc]

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Does it make any difference if you use different lenders for stafford loans and gradplus? I already have a lender for Gradplus, but their stafford terms seem absolutely terrible. I was sorta on the bubble to get my credit approved for gradplus loans and am worried if I take my staffords somewhere else, they might not be so kind next year and give me the gradplus. Is this irrational?

 

[Doctor Bagel]

Does it make any difference if you use different lenders for stafford loans and gradplus? I already have a lender for Gradplus, but their stafford terms seem absolutely terrible. I was sorta on the bubble to get my credit approved for gradplus loans and am worried if I take my staffords somewhere else, they might not be so kind next year and give me the gradplus. Is this irrational?

From my understanding, the GradPlus approved is based solely on credit and your school's determination of need. I don't think a lender would not take your business just because you don't use them for all your loans. The main drawback that I'm seeing is that you'll have some more administrative hassles -- 2 lenders mean 2 groups that can screw things up. 😱 But it could be worth it if the other lender really has better terms.