The guy on the phone is telling me that they all offer the same deal and the same services, but I don’t believe him. Does it matter if I go with Academic Financial Services (AFS) or Sallie Mae or any other company, or are they really all the same?
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JRM
July 30th, 2010
No, they aren’t all the same. While the interest rate they have to give you is mandated by Congress, their service and repayment incentives vary quite a bit. Plus, there have been many new companies that have come into the market literally over night. Go with a well known company. How about the lenders that currently hold your loans? Have they been a problem to work with? Has their service been good? Were they recommended by your aid office? If you can answer ‘yes’ then just consider working with one of them.
flying_eagle
July 30th, 2010
There IS A DIFFERENCE. Its like banks offering home loans – everyone has slightly varying terms and conditions and other side benefits.
Go with a reputable company which has had good reviews. Ask your friends or other grads/students on who they are working with and ask for feedback.
Remember to do a lot of research… otherwise you may just flush a lot of money down the drain…