GRAD PLUS Questions and Answers 2007

[Le Docteur De Peste]

Someone de-linked my other image, so...

[Violet247]

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[lindenksv]

Ok, I called a ton of places and this is what I found out from each of them concerning Grad Plus loans:

Citizens's Bank of Rhode Island: Rate drops by 1% upon entry into repayment and .25% if you do automatic debit. 60 day grace period. 3% origination fee.

Academic Finance Corp: Rate drops by .25% when you enter repayment and 1.75% if you do automatic debit. 60 day grace period. 3% origination fee.

T.H.E.:  Rate drops by 1.3% when you enter repayment and .25% upon first disbursement. No grace period. 3% origination fee which is given back to you upon graduation.

Citibank: Rate drops by 1.25% when you enter repayment and .25% if you do automatic debit. 6 month grace period. 3% origination fee.

I called Access Group as well, I don't remember exactly what they said, but it wasn't as good as Academic Finance Corp so I didn't bother writing it down. I also called Sallie Mae, but they said they don't service loans for those going to Columbia.

[dcforlife]

My question about THE was if you have to service your loan with them for life to retain the 3% refund (so no consolidating?). I assume you have to, but I don't know the answer. Thanks for the info!

PS you must also be from Rhode Island?

[lindenksv]

No, not from Rhode Island. Just so happened that when I needed a private loan during undergrad they gave me a great rate and I got my loan from them, though I'm from MD (well..from DC now).

[Sweetpri]

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[dcforlife]

No, not from Rhode Island. Just so happened that when I needed a private loan during undergrad they gave me a great rate and I got my loan from them, though I'm from MD (well..from DC now).

Ah, OK. Little Citizen's Bank is making a name for themselves! I just checked and they're all over the place in New England/tri-state. Cool!

[togbra]

Ok, I called a ton of places and this is what I found out from each of them concerning Grad Plus loans:

Citizens's Bank of Rhode Island: Rate drops by 1% upon entry into repayment and .25% if you do automatic debit. 60 day grace period. 3% origination fee.

Academic Finance Corp: Rate drops by .25% when you enter repayment and 1.75% if you do automatic debit. 60 day grace period. 3% origination fee.

T.H.E.:  Rate drops by 1.3% when you enter repayment and .25% upon first disbursement. No grace period. 3% origination fee which is given back to you upon graduation.

Citibank: Rate drops by 1.25% when you enter repayment and .25% if you do automatic debit. 6 month grace period. 3% origination fee.

I called Access Group as well, I don't remember exactly what they said, but it wasn't as good as Academic Finance Corp so I didn't bother writing it down. I also called Sallie Mae, but they said they don't service loans for those going to Columbia.

check this out if you hadn't already:
http://www.finaid.org/loans/studentloandiscounts.phtml

table of different lenders (not comprehensive, but very good):
http://www.finaid.org/loans/plusloandiscounts.phtml

There is also another thread here that might clear up some confusion (it references back to this thread, but includes additional info since that post that is not covered in this thread):
http://www.lawschooldiscussion.org/prelaw/index.php/topic,85531.0.html

[lindenksv]

Togbra, I had seen these sites, but they didn't list a bunch of my school's "preferred lenders" so my post covers those. Plus, it's one thing to have a list on a website, and another when you call them up and ask what the deal is and make sure that the info is current and that they do in fact offer that.

[Nooteboom]

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