Deciding Where to Go > Financial Aid

Fed Loan "Origination Fee"???

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risingMC:
So I just recieved a little card from accessgroup telling me that if I get my federal loans through them I get to avoid paying this little $550 "origination fee" that I would otherwise see deducted from my $18500.

What's the catch?

giffy:
With federal loans the federal government is not always your lender. They jsut subsidize your loan and often there is an origination fee. Different lenders have different programs for federal loans that range from good to bad. I can't say if that offer is good. But shop around and talk to your schools finaid office.

risingMC:
Ahhhhh....

Thanks!!

mobie:
Hi MC---shop around because you shouldn't have to pay origination fees...there are programs that offer loans without them! 

dreamer1:

--- Quote from: mobie on April 21, 2005, 11:21:03 AM ---Hi MC---shop around because you shouldn't have to pay origination fees...there are programs that offer loans without them! 

--- End quote ---

It appears that access loan is the only one without origination fee from most schools preferred lenders. I had to pay one for my undergrad loans. But I think the most important thing to consider, other than the interest rate, is capitalization.

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