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Transferring to university from community college next fall semester, so I'm pretty sure my grants won't cover all the tuition and expenses. Also pretty sure federal loans won't cover everything as well. So once I maximize all my federal aid, what private student loan providers should I look into?
What provider did you use? What were your interest rates and how did your credit generally look at the time of application? How's the company's customer service?
Any and all feedback is much appreciated. Thanks in advance!
Not to hijack your post, but I'm also wondering this. I currently have a private student loan with Discover and I'm not a huge fan for many reasons. One reason being they are so picky with their approvals.
@Anonymous wrote:Not to hijack your post, but I'm also wondering this. I currently have a private student loan with Discover and I'm not a huge fan for many reasons. One reason being they are so picky with their approvals.
I was considering Discover as I do have a card with them. But what else don't you like about their student loans? And if you don't mind me asking, what's your interest rate on your loan?
My interest rate is 8.250%. It's not that I really don't like their student loans. It's just that they have been extremely picky with who they let co-sign for me. My father has pretty good credit and they approved the first loan, but when I had to apply for one more that was only 1k more (to finish covering all of the costs), they denied it. Plus everything wiht them is 48 hours. I had to send in a picture of my ID, SSN, proof of address, etc.. all took 48 hours for them to acknowledge I got it. Same thing for my father who cosigned. It's really not bad, but I was always paranoid I wouldn't get it in time. Other than that, they've been good. They answer your questions quickly and everything and are always there to help. I'm just getting nervous about having to apply for my next student loan. I'm not sure if it'll be through Discover because they don't allow you to consolidate. I'm afraid I will have trouble getting approved through them again.
I have 4 variable rate private loans with Wells Fargo. The rates range from 3.25% to 4.75%. I don't have a problem with them. Their website is pretty good, and they are one of two private lenders to introduce more flexible payments options this year.