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Author Topic: Stafford loan rate of %4.55 too good to be true?  (Read 1066 times)

aleutian

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Stafford loan rate of %4.55 too good to be true?
« on: July 12, 2007, 12:46:41 PM »
I've been searching for lower Stafford loan rates and came across National Education.  They offer all kinds of fee reductions and lower interest rates.  Does anyone have experience with National Education? Anyone aware of any risks with this lender?  It seems too good to be true vs the %6.8 standard Stafford rate.

http://www.nationaleducation.com/winning_combination.html

aleutian

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Re: Stafford loan rate of %4.55 too good to be true?
« Reply #1 on: July 12, 2007, 01:16:16 PM »
I have to follow up here with some potentially useful information for others.  Wikipedia has a list of the biggest lenders for Stafford loans:
http://en.wikipedia.org/wiki/Stafford_loan
so I went through that list and did a brief inspection of the interest rate reductions for ontime payment.  After a quick glance, the greatest reductions in interest rates for ontime payment were the following:

Wachovia - http://www.wachovia.com/personal/page/0,,325_496_8292_8315,00.html
Wells Fargo - http://wfefs.wellsfargo.com/jump/i_stafford_fee.html
US Bank - Must call for information

Hopefully someone will post a reply with even better rates.