Which UnSubsidized?

Discussion in 'Financial Aid' started by liynus, Mar 25, 2004.

  1. liynus

    liynus Junior Member
    7+ Year Member

    Joined:
    Oct 27, 2003
    Messages:
    23
    Likes Received:
    0
    Hi, I'm trying to decide between lenders for the Stafford Loans.

    Which is the best lender in your experience:

    Citibank - 2.0% interest rate reduction after first 48 months. %0.25 int red for automatic deducters, 2.0% prinicipal reduction in repayment for Stafford Loan borrowers

    Access Group - 0.25% interest rate reduc for auto payment, 2% interest rate red after 48 consecutive on time payments

    Bank One/Med Loans - Cash Back Plan. 3.5% cash back after first 33 monthly payments. 4.5% credit after making 33 scheduled payments.

    MedPreferred - 4% int rate reduc on Stafford after first 7 payments. 0.25% int rate reduc for Stafford and PLUS for automatic withdrawal.

    T.H.E. Loans - No Fees. Monthly payment to account = to annualized 1.3% reduction

    (and which one is Nelnet???)

    Thanks for the answers:
     
  2. critterbug

    critterbug I like big buttz. No Lie!
    7+ Year Member

    Joined:
    May 13, 2003
    Messages:
    1,690
    Likes Received:
    3
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  3. liynus

    liynus Junior Member
    7+ Year Member

    Joined:
    Oct 27, 2003
    Messages:
    23
    Likes Received:
    0
    I haven't heard about Now Loan. These lenders were the only ones given to me by SUNY Downstate to use as a Stafford loan lender. Is Now Loan that much better? And if I can't choose that, do u know which of the above would be the best to choose?
     
  4. mpp

    mpp SDN Moderator
    Moderator Emeritus 10+ Year Member

    Joined:
    Jan 17, 2001
    Messages:
    3,398
    Likes Received:
    16
    Status:
    Resident [Any Field]
    Just pick one without origination/guarantee fees...
     
  5. rgporter

    rgporter Senior Member
    7+ Year Member

    Joined:
    Sep 5, 2003
    Messages:
    920
    Likes Received:
    1
    Nelnet is who buys up your stafford loans once you finish school. Atleast they're the one the man sold my undergraduate loans to.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  6. Chrisobean

    Chrisobean The Killer Bean
    7+ Year Member

    Joined:
    Dec 17, 2003
    Messages:
    2,118
    Likes Received:
    1
    i picked AAMC medloans becuase even though they have an origination fee, their repayment incentive was the best even with the fee included.
    thats what really makes all these different.
    lender 1 has a 3% origination fee, but 3.5% back after X # payments and 4.5% back for something else...
    lender 2 has 0% origination fee, but only 2.5% back after X # payments...

    i think 1 comes out better in the long run. but thats just my opinion.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  7. liynus

    liynus Junior Member
    7+ Year Member

    Joined:
    Oct 27, 2003
    Messages:
    23
    Likes Received:
    0
    Wow, I never even thought of the origination fee. OK, I'm going to try and investigate all the lender's origination fees and post them back up. But if that doesn't work, it's MedLoans for me! Thanks guys. The board is wonderful.

    btw, Looking at Nowloans, it seems like it's for OsteoMed people? It doesn't say anything about giving Allos a break. :(
     

Share This Page