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Author Topic: Loan Problem  (Read 619 times)


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Loan Problem
« on: June 23, 2005, 08:20:36 PM »
for reference, i have to apply for my stafford loan through the new york state higher education services corporation (HESC), in case anyone else is also applying through that guarantor.

but i think the issue is probably applicable to most people... when i apply for the stafford loan, i end up with a master promissory note that is fairly generic, except for the name of the lender listed in a box.

my question:

where, in print, will i see any of the terms that these lenders all advertise (i.e. no origination/guarantee fees, discount on the interest rate when using automatic checking deposits, or even the THE bonus)? i don't understand why i'm choosing between different lenders if i am never going to see these unique terms on a contract in writing.

hope the question made sense; i really need help with this problem...