Category: Cram Session
Which lending bank, companies, private organizations or government funding institutions did you go for when you got your student loan for college? What factos did you consider? How were the rates? Did the interests increased when you did not pay on time? Which payment plan did you choose? Thanks for your insights, all your opinions and duggestions are appreciated. Thanks
I don't know how it works in the states, but here in Canada, you can get student lones at both the provincial and federal level, and it isn't through a specific banking institution. although, you can get private student lines of credit from a bank if you don't qualify for provincial assistance.
Hi. My loans are through a company called Sallie Mae Lending. The interest rate is pretty good, only like 2.9 percent, I think. But yes, your interest rate will most definitely increase if you don't pay on time, and it will also effect your credit score. I pay monthly on mine. I have Sallie Mae automatically withdraw the payment from my account, that way there's no chance of me forgetting. However, you don't have to start paying till you've been out of school at least six months, and if you go back to school, you can get your payments deferred till you're done. You can also get them deferred due to financial hardship, if you can prove that.