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 Posted: Tue Apr 10, 2007 4:49 pm Subject: EducationFinancePartners.com? Please Help Me!! |
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Anyone had any experience with EducationFinancePartners.com? I am looking to get about $10,000 to live more comfortably for the remainder of my schooling, and would like to not have interest until I graduate, but I can't get much from FAFSA.
If you have any other suggestions I'd appreciate them! Thanks,
-Kyle-
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infinitytimes82
Joined: 24 Jan 2007
Posts: 15
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| Posted: Tue Apr 10, 2007 5:11 pm Subject: |
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Is this a private student loan company? No, I have not dealt with them, nor do I know anything about them. I did apply for a private loan through Bank of America called an education maximizer loan. I can't remember the exact requirements, except for you had to obviously be in school. You might want to check out their website.
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Lorri
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| Posted: Tue Apr 10, 2007 6:06 pm Subject: |
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Private loans are all interest bearing from day one and they generally have a higher interest rate than governmental loans. They have extremely limited deferenment and forebearances.
Problem with a lot of these secondary lenders is that they frequently sell off their loans with leave a bunch of extra tradelines on your credit report.
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SOAPLADY
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| Posted: Wed Apr 11, 2007 9:36 pm Subject: Hmmm... |
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So, if they say that no payments are required during school, does this mean that interest does still accrue, but I can just start paying off the principal plus interest after I graduate?
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infinitytimes82
Joined: 24 Jan 2007
Posts: 15
Debtcc Points: 517
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| Posted: Thu Apr 12, 2007 6:35 am Subject: |
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With Private loans, no payments are required but interest starts accruing from day one.
A lot of private lenders offer or require interest payments while you are in school. Check around and make sure you have the best rates and terms.
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SOAPLADY
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| Posted: Thu Apr 12, 2007 8:20 am Subject: Thanks! |
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Thanks SoapLady! This is just what I need...=)
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Guest
Debtcc Points: 100
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| Posted: Thu Apr 12, 2007 8:23 am Subject: Me Too! |
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Me too! This has helped me a ton...I still need to figure out whether it would be worth it to get a private loan or wait until 2008 for FAFSA now.
If my parents just got divorced, I can report only one of their incomes, correct? Their income was the reason I could not get anything from FAFSA before, but I', sure I could now.
Any advice?
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infinitytimes82
Joined: 24 Jan 2007
Posts: 15
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| Posted: Thu Apr 12, 2007 8:45 am Subject: |
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Infinity.....you just posted that allied is calling you...is that on a student loan?? If so, you are in default and you would now be ineligible for financial aid which includes all loans and grants.
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SOAPLADY
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| Posted: Thu Apr 12, 2007 8:46 am Subject: |
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ignore my previous post. I got names mixed up..sorry!
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SOAPLADY
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