OK...I think I fixed it. According to what I read at the government's financial aid site, all unsubsidized stafford loans are capitalized only at repayment (regardless of lender). Please correct me if I'm wrong. Given this, the total payments at $1000/$2000 monthly payments are for each lender:Lender $1000/mo $2000/moAccess $89,627 $80,323Citibank $82,477 $67,622Edamerica $86,867 $78,415Academic Financing $85,054 $77,999THE $88,365 $79,699(8500 sub, 12000 unsub per year for 3 years, interest capitalized at repayment, starting payment 6 months after graduation, making every payment on time, getting all bonuses offered, 6.8% fixed, etc)
http://www.efsi.net/no origination or default fees, 2% rate reduction at repayment. Too good to be true?
Quote from: myconfessions on July 12, 2007, 07:57:47 PMWait, so there is an origination fee? I think EFSI only does loans for some schools (and does not charge those students an origination fee). If you go to another school, AFC will give you a loan with the same discounts, but you have to pay the origination fee.
Wait, so there is an origination fee?
OK, I'm going with Citibank. If you get all of the bonuses, they end up being the cheapest (at least in the $700-1000 monthly payment range) and they won't be out of business in 15 years. I know most people don't get all of the bonuses, but I'm real anal about that stuff and have ways to make sure I don't miss a payment. If you aren't so sure about making every single payment, I'd recommend THE. Good luck, all.