« on: July 02, 2007, 12:49:45 PM »
I went with MEFA. One of the factors influencing my decision was the possibility for some private lenders to be bought up in whole or in part before you begin repayment. As I discovered during my research, Sallie Mae is big on doing this, apparently. Suddenly, the incentives that you expected to receive when repayment begins aren't there anymore -- it's up to the loan's new owner whether to honor those terms, since they're not in the contract that you signed. At least, this was my understanding from a couple afternoons of reading. My thinking was, with a semi-public entity like MEFA, the possibility of buyout or dissolution is less.