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Best Lender?

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Kennie02
Frequent Contributor

Best Lender?

Does anyone have any good experiences w/ some private student loan lenders? I am rebuilding right now but I am hoping to have great scores by the time I might need a private student loan. I am only eligible for one year of the subsidized student loans so I will need to borrow from private after that... Not looking forward to it so any advice would help
NFCU cash $25k | BofA Custom Cash $25k | Amex BCP $18k| Costco Anywhere $14.5k | Apple Card $5.25k | Cap One QS $4.5k | Sephora Visa $4k | Discover It $3.5k | Citi DC $3.5k | Citi AA Mile Up $3.1k | Chase Amazon $3k | Amex ED $3k | Chase IHG $3k | Chase Freedom Unlimited $2.5k | Chase Freedom $2.5k | Citi Rewards $2k | Last HP 8/16/22
Starting score 09/2013: 530 Current FICO 8:
Credit Age:
New Accounts:
Inq (6/12/24M):
Message 1 of 5
4 REPLIES 4
Brusilov
Established Contributor

Re: Best Lender?

I'd like to know this also!

Message 2 of 5
Luscher
Valued Contributor

Re: Best Lender?

The one with the best interest rate! Try your bank. I know I have a wells fargo bank account and if i have an account linked to a student loan i would get .5% additional off. so just shop around. I personally would never get a private student loan, but if its all your able to do then you have to

 

edit: typo

CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 3 of 5
Brusilov
Established Contributor

Re: Best Lender?

After doing some research myself I'd highly recommend you check out local credit unions.  One locally here offers rates between 3.50% and 7.50% which is quite good!

Message 4 of 5
Rikku
Regular Contributor

Re: Best Lender?


@Luscher wrote:
The one with the best interested rate! Try your bank. I know I have a wells fargo bank account and if i have an account linked to a student loan i would get .5% additional off. so just shop around. I personally would never get a private student loan, but if its all your able to do then you have to

^This!

DH and I both have a number of SLs, both federal and private. In our experience, one lender has been much the same as another. My favorite is the one with the lowest interest rate and my least favorite is the one with the highest interest rate. In 6 years of repaying, I have never had a reason to call any of my lenders. DH has called his and customer service has been about the same with each. I would select a loan based on the interest rate and flexible terms, not the lender.

Message 5 of 5
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