hi guys

I am trying to geet a loan for my graduate study, which lender offer the best rate for federal loans.

Thanks

There is no difference in the rate among the different banks for federally-backed student loans -- it's set by the federal government. There may be some difference in interest rate by lenders who offer federal consolidation loans (some offer interest rate reductions for things like auto debit payments and after some number of on-time payments, or for residents of the state where they're located, etc.), but that's not something you decide (or even have open to you) until you finish and enter into repayment. The rate also changes annually -- until you consolidate, if you choose to -- when the government refigures the interest rates for the year on student loans (it's done on July 1 of each year). As far as I understand it, the only real difference is in customer service and the like. My lender and servicer was the DOE itself, so I can't help you with any particular banks (and I had no problems with DOE, if that helps at all).

Hope this helps!! Good luck and good luck in grad school!

kona

If you have undergraduate stafford loans, you want to be sure that you go with a different servicer and lender for your graduate loans. Otherwise, you may not have any choices or flexibility when you go to consolidate. Consolidation is definitely something that in about 90-95% of the time I recommend. You want to be sure that you put yourself in a position that any decisions are yours and you are not limited by either current or future federal regulations concerning consolidation.


fla-tan