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Author Topic: Does the lender really matter?  (Read 6449 times)

risingMC

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Re: Does the lender really matter?
« Reply #20 on: April 25, 2005, 10:49:35 AM »
Using the calc that Javert brought up:

Access group interest: 5.62%

Citiassist interest: 5.75%

However, Maticatrix makes a good point re: the extra fees that access group seems to tack on. Currently looking to see if citiassist does the same.


Boston24

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Re: Does the lender really matter?
« Reply #21 on: April 25, 2005, 10:51:52 AM »
I'm thinking I'm going to use Access Group. They seem to have all the benefits - no fees, on time payment reductions in interest rate, etc. Has anyone found a drawback to using Access Group or had a bad experience with them?

I was wary of two things I read on the Access group site- I might have misinterpreted, but as I understand it, Access Group charges a "guarantor fee" for the Stafford loans (which can end up equalling an origination fee), and also charges a loan fee at repayment for private loans. 



I have no idea and certainly am not trolling for Access Group, but, on the Access Group Website they say that they charge guarantor fees for some guarantors so possibly won't always charge them?  And they also say that No Fee Private Loans are coming late this spring?
UVa it is!

risingMC

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Re: Does the lender really matter?
« Reply #22 on: April 25, 2005, 11:14:07 AM »
I haven't seen anything on the citibank website about no origination fee federal loans, whereas accessgroup displays that prominently. I might do my federal loans with access group and my private loans possibly with someone else.

Oneof2

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Re: Does the lender really matter?
« Reply #23 on: April 25, 2005, 11:55:01 AM »
Is there any disadvatage in using different lenders for your federal and private loans? 

Masticatrix

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Re: Does the lender really matter?
« Reply #24 on: April 25, 2005, 12:06:01 PM »
MC- I'm almost positive Citibank doesn't charge origination fees for federal loans (of course, I'm counting on a chart I made at like 4 in the morning for my information)

After poring over my ridiculous Excel spreadsheet, I'm thinking of going with Citibank. Although their private loan interest rate isn't quite as good as some of the other lenders, it's also not awful.  Has anyone had an experience borrowing through Citibank?

This is so confusing.
Attending: Hastings

TigerLoo

risingMC

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Re: Does the lender really matter?
« Reply #25 on: April 25, 2005, 12:10:26 PM »

Boston24

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Re: Does the lender really matter?
« Reply #26 on: April 25, 2005, 01:04:34 PM »
I haven't seen anything on the citibank website about no origination fee federal loans, whereas accessgroup displays that prominently. I might do my federal loans with access group and my private loans possibly with someone else.

I think this is what I'm doing.  Stafford through Access Group and private through BoA/GATE (it's what UVa recommends and seems pretty good).
UVa it is!

risingMC

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Re: Does the lender really matter?
« Reply #27 on: April 28, 2005, 12:32:36 PM »
Bumping this thread a little. Northstar is looking more and more appealing to me ...

A.J

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Re: Does the lender really matter?
« Reply #28 on: April 28, 2005, 12:41:45 PM »
The rates available, as I understand it, are not dependant on the lender but only upon your credit and if necessary that of your cosigner.  There may be other issues with the bank bureuacracy that make a difference but I cant comment on that.

Cyndra

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Re: Does the lender really matter?
« Reply #29 on: April 28, 2005, 02:18:35 PM »
bump
This is so confusing...