Which bank is the best for student loans and why?

Question

I'm looking for a bank to take out loans for college. I will need about $7,500 a semester.

Answer 1

I used the First Bank of Mom & Dad. That bank was great! Being an only child helped, though. . . .

Answer 2

If you are talking about federal stafford loans, each company offers the same rate, because the government controls the industry.

I work at nelnet (www.nelnet.com). I wont bash other company's, but we are open 24/7, and offer incentives to reduce your interest rate.

If all you need is 7,500 per year, you should be able to get everything covered with the stafford loan program (low fixed rates, 6 month grace period after graduation before payments begin), but only if you are an independant student (over 24 years old, or married are the most common)

the number is 866.866.7372

Answer 3

There's no one particular bank. Find one with the best interest rates; however, there are government regulations as far as how much you can borrow each year.
Since you need that much each semester, a parent/guardian can take out a loan on your behalf for college.

Answer 4

You dont mention anything regarding your age, so if you file as a dependent student, you will only qualify for a maximum stafford of $3500. If you are independent you could qualify for as much as $7500 sub and unsub stafford. All the rates are the same. Check with your financial aid office for a comparison of borrower benefits. This is where you REALLY need to take a look to decide who to borrow from. They, the financial aid office, are your best and easiest way to check out the competition. Good luck