Stafford Lenders CitiBank vs. Access Group

[KFUNK]

What does everyone think about CitiBank vs. Access Group, taking out the full 18,500 in Stafford Loans. The rates are fixed and the same, however Citibank offers some beneifts for on-time payment that Access Group doesn't. For example, Citibank gives a 1% reduction for 36 ontime payments and anotrher 1% after your 48th on-time payment. However Access Group gives a .80% reduction for on-time payments starting from the first payment.

What do you all think?

[whoisjohngalt]

Go with AccessGroup.  Not worth waiting to get the benefits.  Plus, if you miss one payment, you'll never get the % reduction.

[Mr. Burnz]

Go with THE (http://www.theloanprogram.com).  They offer a 1.3% rate reduction immediatley upon repayment--and if you miss any payments, you can get this rate reduction back in 60 days (aka, make the next 2 payments on time).  This company seems to be the best for my needs anyway--I've been reading up on this stuff the last 48 hours straight.  I'd never heard of them before, but they're the preferred lender for GWU.

I plan on clearing my debt within the first 3 years of graduation, so I don't see the use in waiting 36 or 48 months before I get a discounted rate.

[whoisjohngalt]

Go with THE (http://www.theloanprogram.com).  They offer a 1.3% rate reduction immediatley upon repayment--and if you miss any payments, you can get this rate reduction back in 60 days (aka, make the next 2 payments on time).  This company seems to be the best for my needs anyway--I've been reading up on this stuff the last 48 hours straight.  I'd never heard of them before, but they're the preferred lender for GWU.

I plan on clearing my debt within the first 3 years of graduation, so I don't see the use in waiting 36 or 48 months before I get a discounted rate.

Why would you clear your debt in 3 years?

[Mr. Burnz]

I expect to have the money to clear it in 3 years (or at least most all of it), so why wouldn't I?

[kiyakoiya]

tag

[Mr. Burnz]

Yeah, that's a good point stephanie...I guess its basically gonna come down to my needs and exactly how much money I'm making/holding.  If the interest is less than I can take out in the form of any other loan, then yes, I probably will just stick to a little more than the minimum payments.

I guess its just kind of a mission for me to pay off my own loans and show my dad I am self-sufficient.  I feel like once I do that, I'm home-free.  But you're right--debt isn't necessarily a bad thing.  I guess being a poor student now its a little harder to see that, but when the time comes we'll see what happens...

[shaz]

bumpity-bump-bump.