I just applied for my private loan through Sallie Mae. I got prime minus .25% with my credit, which has no blemishes but is only two years old. I'm also carrying a balance of about $800 of a $1500 credit limit on my only credit card, so I was pretty pleased with the rate.
The loan also included a 3% repayment fee, which I was told will not apply if I add a cosigner to my loan (I plan to).
dsmit56 - from what I gathered from my conversation with someone at Sallie Mae, the repayment fee is charged on the entire amount of your loan just before you make your first payment after graduation/the grace period.
I do not plan to pay the interest on my loan while in school, so that interest will accumulate and additional interest will be charged on not only the original principal but also the deferred interest that has been accruing over the years. So by the time I get around to paying my loan, the amount will be quite a bit and saving 3% of that total amount will be a good deal of money - therefore I'm going with a cosigner.
For those who are interested, I thought the people at Sallie Mae were pretty helpful and that the loan rates/terms seemed very fair.