which is a better lender for student loans: wachovia, wells fargo, edamerica, or citibank?
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I am a new undergradutate I want to borrow 15,000 for the entire year
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Tags: Better, Citibank, edamerica, fargo, lender, Loans, Student, wachovia, wells
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on Saturday, March 20th, 2010 at 11:20 am and is filed under Citibank Student Loans.
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March 20th, 2010 at 12:17 pm
It’s impossible to tell you the ‘best’ lender as we don’t know you or your situation. Do you prefer a subsidized stafford or unsubsidized? would you rather get a private student loan? How is your credit? Do you have a co-signor? Would you be willing to pay higher fees to get a lower interest rate or would you rather take a higher interest rate with no fees?
You see, there are too many variables to really give you a good answer. Spend some time comparing the lenders at sites like http://www.studentloanconsultants.com, read about their programs and talk it over with your friends and family. Get input from them on what they think will be best for you.
March 20th, 2010 at 12:49 pm
I have always had great experiences with EDamerica until recently. Edamerica purchased my undergrad student loans through a loan rehab program. I had a great experience. It way easy to make payments online, so I decided to use EDamerica for grad school loan. the first two quarters were great. Payments & refunds arrived in a timely manner.
Today I learned that my summer tuition , although approved by FAFSA and the university, had NOT been paid.
I was told by Capella University that it was due to technical issues with the lender. I called Edamerica, and they gave me a run around and stated they didn’t know when they would send funds to the university. A few hours later I received an e-mail from Capella University advising me that Edamerica could not send the $$ until mid August or later. Capella is no longer doing business with Edamerica, and the school advised me to select another lender ASAP. Something fishy is going on. Is Edamerica going under? I decided to go with Wachovia.