yeah, i'm thinking real life should substitute LSD- there's something wrong with talking online with everyone when we are a 3 minute bikeride/7 minute walk from one another
I just called the Financial Aid Office and they will be offering GradPlus in the next week, but since they are a direct lender, we'll get no interest rate reductions, rebates, etc. Man, this is getting complex.
Wait, wait, wait- Brisco, they told you Grad PLUS would be offered next week? Now I'm really confused- I asked about this a few months ago and was told (as we all believed) that PLUS wasn't available at UCD. I haven't seen any announcements or mentionings of it online with EFAN either. At this point, I can't find any reductions/rebates for any other loan carriers. Brisco, do you know, based on that conversation, whether the PLUS loan will be made available to all students on EFAN and, if so, is it Prime + something or just the basic Prime rate? I would rather take out PLUS loans than go with pivate lenders- as far as I can tell, I still have deferrment options available to me, as well as a lower interest rate (at least I think that's right- at this point, the loans are driving me crazy and I simply don't care anymore)
I spoke with the Financial Aid Office today. They said the GradPlus loans would be offered on the website sometime next week, and but the funds won't be disbursed until after August 12th. The GradPlus loans will be direct, which sucks, because all the major GradPlus providers such as SallieMae, THE, Myrichuncle, Wachovia, even NellieMae offer rate reductions, incentives, etc. For example, SallieMae gives you a .25% rate reduction right off the bat, making the GradPlus loan 8.25% right off the bat. All in, a SallieMae GrdPlus loan can be as low as 6.75% or something. All GradPlus loans are fixed at 8.5%
I'm getting the GradPlus loan, unless the Financial Aid Office was jacking my jaw! I like the consolidation options, the fact that I don't need a co-signor, and the deferral options. With the options we are left with, it makes the most sense. It's still junky, but beggers can't be....you know the rest.