Help! I'm looking to find a reasonable private undergraduate student loan!?

Question

I have so far narrowed it down to borrow either from Chase or MyRichUncle. My loan will range from atleast $10,000 up to about $15,000. I am open to suggestions of other loan companies. I would really like to have a low interest rate, possibly no origination fees, and payments deferred till atleast 6 months after I've graduated. All ideas are greatly appreciated!

Answer 1

First, have you completed the FAFSA? This application allows you to be considered for the federal student loan program which requires no credit check, cosigner, and defers payment until after you leave or graduate from college. You should complete the application on line at http://www.fafsa.ed.gov first before applying for a private (sometimes called alternative) student loan. Then, if you still need to borrow additional funds, do a search on Yahoo! for education loan lenders for a listing of the MANY lenders available. Many of these lenders allow you to do a pre-approval where they will inform you of the terms of the loan including interest rate, fees, etc. These loans most likely will require a credit check and possibly a cosigner, but you will be notified of that during the pre-approval process.