Find a Lender
As you start your search to find a lender, you may be asking yourself, "aren't all lenders the same?" The answer is no. Choosing the right lender can save you thousands of dollars over the course of your loan. Even with federal loans, which have similar loan programs, some offer better terms and discounts. Your school's student aid office should have a "preferred list" of lenders. This should be a good place to start comparing your lenders.
Compare repayment plans
Some plans offer longer repayment terms than others. You may have lower monthly payments this way, but you will pay more interest on a longer-term loan. Figure out what payment plan is best for your lifestyle.
Compare interest rates and terms
Determine the interest rate and whether it is set or variable. Find out exactly what your monthly payment will be. Are there any additional fees, such as guarantee or origination?
Evaluate customer service
Can you apply for and manage your account online? Are you able to talk to a live person (a rarity these days) if you have questions? Are the customer service hours convenient?
Research borrower benefits
Does your lender offer any discounts to borrowers who apply online, pay on time or pay electronically?
Find a lender
Use this list to learn more about some of the more popular student loan lenders. Link
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Now that you know how to Find a Lender, check out our News and FAQs section for more information on student loans.