How do I choose a student loan lender?
June 29, 2010 by admin
Filed under Student loans
I need to choose a Student loan lender. How does this work? Should I find a lender with the lowest interest rate? Are there different kinda of rates? What companies should I be looking at?
Hmmm, apply for a FAFSA loan. . . . this is a government loan/grant program that offers low interest student loans. If you go to a bank or private company, they will charge a lot of interest plus are strict on payment terms. Government loans give you time to repay your loan after you graduate, plus are low interest!
http://www. fafsa. ed. gov/
Don’t go to guys like “Mr John Hull” down below. . . . he’s probably a scam artist, or his interest rates are insane. . . i can guarantee it. No one with legitimate student loans advertises on yahoo answers. . . . .
you go on line and search for this stuff it will heap you go and call around talk to your friendsand principal teachers and you will find your answer
This is a pretty standard question. Without spending too much time in a financial aid office, there is plenty you can do get the process started.
Start by going to http://www. fafsa. ed. gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. In most cases, it isn’t. If you find that you need more money then you are offered, you may want to try a private student loan.
The best thing to do is compare the different private lenders out there, which can be done at http://www. finaid. org/loans/privatestudentloans. phtml
Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www. thinkfinancial. com . Good Luck.