Fed Financial
Private student loans?
I am a graduate student at a private school. Right now my tuition is covered through federal loans. Unfortunately, I need a new car and I wondering if anyone knows about a good private student lender that I can get a loan to pay for a new car. I understand the risks involved. I have spent a lot of time looking at different bank websites but I am unsure of what bank or private lender will provide me with the best deal. Thanks
Public Comments
- That will really depend on your credit rating. I bought a new car and went with Wells Fargo. I then defaulted on the loan and they ripped $1500 from my Wells Fargo checking account. It's in collections now. The withdrawing of the $1500 caught me by surprise. Just be sure to check the terms and conditions in the event of default. Make sure you're not giving too much of your life away. You also cannot discharge this loan in bankruptcy.
