Fed Financial
Student loans?
So whats the deal with all these dumb student loan commercials. And what is the catch? Obviously they are leaving out the horrible loan finite details. So whats the catch? Especially focusing on Astrive, I hate their commercials enough it makes me NOT want to get a loan with me, and I just KNOW they are holding back some terrible information. Wolf is sheeps clothing I swear.
Public Comments
- thre great
- yeah... banks are not to be trusted... also any institution with the word "financial" or "security" in it...
- Probably the interest rates. It's best to arrange loans through your college's financial aid office. You'll get the best deals there.
- The "40,000 per year" they speak of is limited by your cost of attendance. And no, the apr isn't necessarily bad. Shop around. Often, your school will use a certain lender not because that lender is the best, but because the lender pays your school off with a "kickback" (bribe). Also, your school will usually take out larger fees if you use their preferred lender.
- The catch is that the loan these lenders give you is a student loan. It's more secure than most any other loan they can make. Even more safe than a mortgage. Since the rates for private student loans like the one offered by astrive, is based on market conditions, they may be higher than federal student loans. A bank needs to lend money in order to make money. If they have a choice in lending $20,000 to you as a student loan or the same amount to you as a car loan, they will lend it as a student loan due to its lower risk and similar interest rate structure. Because rates, fees and terms vary by lenders that offer private student loans you should treat the loans like you do anything else. Shop for the best offer that fits your needs. Apply for a loan through each Astrive http://www.astrive.com , Chase Bank http://www.usadegrees.com/chase/ and an independent such as Student Loan Advisors, http://www.StudentLoanAdvisors.com
