kjconcepts Posted April 4, 2012 Share Posted April 4, 2012 Anyone have any experience with these private lenders? They seem to offer a better rate than the government. the loan officer at my school suggested some of these variable rates can soar to as much as 14%. what was your experience? Link to comment Share on other sites More sharing options...
wisemakl Posted April 4, 2012 Share Posted April 4, 2012 I dont have experience... YET. Buut I'm planning to take a significant amount of my loans using the Discover Health Professional's Loan Link to comment Share on other sites More sharing options...
kjconcepts Posted April 5, 2012 Author Share Posted April 5, 2012 What made you choose this lender over all the others? Link to comment Share on other sites More sharing options...
wisemakl Posted April 5, 2012 Share Posted April 5, 2012 What made you choose this lender over all the others? ... I'm guessing this was directed at me? I spent some time looking at a number of loans options, and this discover had the best option out of all that I looked at. I'm not saying its the best out there.. I only spent about 2 days looking, but it was the best I found during that point in time. PLUS it is better than the federal stafford. I'm only conditionally accepted to my program until I pass a medical terminology exam (which I'll be taking in the beginning of June). So after that point I will be able to work with the financial aid office and finalize everything. When I do that I would be happy to post on here and update everyone. Link to comment Share on other sites More sharing options...
GatorRRT Posted April 7, 2012 Share Posted April 7, 2012 How is a variable interest rate loan better than Stanford's fixed rate? While 6.8 for direct loans and 7.8 for plus loans is high, at least the rate is locked in. Federal loans offer more protections by way of forberrance and deferment as well. Just something to consider. Link to comment Share on other sites More sharing options...
cinntsp Posted April 7, 2012 Share Posted April 7, 2012 I have an undergrad private loan from Wells Fargo that is at 4.25%. You can get lower rates than from the government if you have excellent credit or cosigners with excellent credit. On the other hand, private lenders tend to be less forgiving/flexible with repayment terms, forbearance, etc. Just make sure you look closely at all of your options before making a decision. Link to comment Share on other sites More sharing options...
cameronlee Posted April 12, 2012 Share Posted April 12, 2012 I'm looking at loans from Suntrust, as well as Sallie Mae. Sallie Mae variable rate is as low as 1m Libor + 2% = 2.25% with NO FEES! That's WAAAAAAAAY better than a federal grad plus loan of 7.9% with 4% fees! (obviously variable vs. fixed is comparing apples to oranges, but still!) Suntrust claims to offer a FIXED rate loan of as low as 3.4%, also with NO fees! With private options seemingly so much better than federal grad plus, can anyone tell me any reason why one would choose grad plus? My financial aid office thought that some loan repayment programs won't pay back private loans, so only federal loans would be eligible – is that true? Link to comment Share on other sites More sharing options...
wisemakl Posted April 12, 2012 Share Posted April 12, 2012 With private options seemingly so much better than federal grad plus, can anyone tell me any reason why one would choose grad plus? My financial aid office thought that some loan repayment programs won't pay back private loans, so only federal loans would be eligible – is that true? My mom brought up the same question. I don't know. I would imagine it would depend on where you are working. For example, if you are working as a NHSC member I'm sure that only covers government aid (since it's a government agency). I asked a new PA grad who is working for the cleveland clinic, and he said they just give you the $5,000 check, so you could put it towards either. I am going to do both public and private, just to be safe! Link to comment Share on other sites More sharing options...
JustPassing Posted April 16, 2012 Share Posted April 16, 2012 https://www.studentloan.com/privatestudentloans/citiassisthealthprofessionsloans.htm This looks like the best choice for those who have great credit/co signer with great credit. Any one have experience/feedback with it? Link to comment Share on other sites More sharing options...
FfIghter23 Posted April 16, 2012 Share Posted April 16, 2012 ^^Citi Student Loan is a variable rate. If you have to go private... I would go with Fixed Rate loan. It may seem higher now, but will cost you less in interest in the long run. Link to comment Share on other sites More sharing options...
cameronlee Posted April 16, 2012 Share Posted April 16, 2012 For example, if you are working as a NHSC member I'm sure that only covers government aid (since it's a government agency). Apparently, NHSC can be used to pay for commercial loans. This is from the NHSC loan repayment policy manual: NHSC LRP applicants must have qualifying educational loans. (1) Qualifying Educational Loans An NHSC LRP participant will receive loan repayment funding to be applied to theprincipal, interest, and related expenses of outstanding Government (Federal, State, orlocal) and commercial loans for undergraduate or graduate education obtained by theparticipant for school tuition, other reasonable educational expenses, and reasonableliving expenses. Link to comment Share on other sites More sharing options...
Gaven32 Posted November 1, 2012 Share Posted November 1, 2012 Assistant ships require research or training actions by the undergraduate. Some learners receive blends of assistant ships Some are open to all learners, others to learners in a specific area. Contact the adviser in your program of study for details. Link to comment Share on other sites More sharing options...
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