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Student Loan Reviews

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SUNTRUST

Although they may not have the same immediate name recognition as some other lenders, SunTrust has an established history in the financial market, particularly with student loans and mortgages. Their two primary student loan products, Custom Choice and Graduate Business School, offer competitive rates and a helpful 1% reduction of your principal as a reward for graduating. SunTrust is our top choice for student loans.

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COLLEGE AVE

College Ave has a great reputation in the student loans market: an "A" rating with the Better Business Bureau, positive customer reviews, and good attention to customer service. Students will appreciate their low interest rates, three-minute application process, and several options for configuring their loan to meet their needs. We highly recommend College Ave for your student loan.

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IHELP

iHelp uses a wide network of community banks to provide student loans, all serviced by the Student Loan Finance Corporation . While the only available loans are variable-rate products, iHelp has several perks that make them worth considering, particularly the ability to have repayments deferred or forgiven under certain circumstances.

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LENDING TREE

LendingTree helps you find the right student loan by providing you with multiple offers from a variety of lenders - including most of those we reviewed. They also provide a number of easy-to-understand resources, such as articles and videos, to give you the information you need to make a smart decision regarding your student loan.

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DISCOVER STUDENT LOANS

Short Among its many financial services, Discover Bank adds student loans to its portfolio. As the first company to offer a cashback bonus on its credit cards, it's no surprise that they offer similar innovative perks with their student loans. Potential borrowers should know that Discover has a less-than-perfect history when it comes to their lending practices and be sure to read the fine print before signing on the dotted line for a student loan.

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SALLIE MAE

No other lender we reviewed can compete with SallieMae's history: more than 34 million Americans helped with college costs since 1972. Interest rates are very competitive, and cosigners can apply to be released after just 12 months of on-time payments, compared with multiple-year requirements of other lenders. On the other hand, hundreds of unhappy borrower reviews describing rude representatives, errors with SallieMae's bookkeeping, and other problems may make it not worth the hassle to apply for your student loan there.

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WELLS FARGO

Wells Fargo is well-known for its many financial products, from mortgages to investments and more. Their student loans website is easy to use, and they have several ways to lower your interest rates through any other relationships you may already have, such as a checking account or previous loan through Wells Fargo. However, numerous customer reviews describe problems on Wells Fargo's end with accuracy in recording student loan repayments and unhelpful representatives.

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Student Loans

As the costs of higher education rise, so does the need for student loans. While some individuals are eligible for federal loans, those loans don't always cover the full cost of getting an education - not just tuition and room/board, but books, laptops, transportation and other expenses. And, people who are ineligible for federal loans don't necessarily have overflowing savings accounts to match their college or university costs.

Private student loans are the way that many students close that gap. On average, students have nearly $40,000 in student loan debt at the time of graduation; without those funds, their aspirations of being a teacher, engineer, or social worker may have been put on hold indefinitely.

Fortunately, there are many lenders who want to make it as affordable and simple as possible to complete undergraduate and graduate-level studies. Some represent well-known, established financial institutions, while others work directly with networks of community banks to get much-needed cash into the hands of eager learners.

Comparing offers from lenders can be as easy as going online; in a matter of minutes and mouse clicks, you can see a variety of interest rates, repayment terms, and other details of each program for which you are eligible. This saves you significant time compared with going hat in hand to your local bank or other lending institution, hoping that they will say yes to your loan application.

When deciding on which lender to use for your student loan, you should consider the following factors:

  • Interest rates. The higher your interest rates, the more you pay over the life of the loan. Does the lender have rates that are competitive? Does the lender offer you the choice between fixed and variable rates?
  • Loan terms. What is the repayment term? Does it give you enough time to get a good job and pay it back? Can you pay it off in advance with no penalty?
  • Discounts. Can you get your interest rates lowered by setting up automatic payments from your checking account? Will you get any perks for having a relationship with the lender in other ways, such as a checking account or credit card?
  • Reputation. Some lenders have a solid history of working with borrowers, while others have a not-so-great track record when it comes to customer service after the loan has been disbursed. How does this lender measure up?

TopConsumerReviews.com has reviewed and ranked the best Student Loan providers available today. We hope this information helps you to get the money you need for your studies right away!



Student Loans In The News

Education Department launches second chance for student loan forgiveness

May 23 (UPI) --The U.S. Department of Education launched a temporary expansion of the Public Service Loan Forgiveness program Wednesday, giving borrowers a second chance at student loan forgiveness. The process will allow borrowers who were disqualified ...

Published:  Wed, 23 May 2018 16:36:00 GMT



How student loans stop people from saving for retirement

When it came to saving for retirement, Mary Koster was killing it. She was young, just starting her career and managing to save around 12 percent a year. Then, in 2007, she returned to school in the hopes of advancing her career as a graphic designer.

Published:  Wed, 23 May 2018 06:35:00 GMT



Democratic Lawmaker Wants to Repeal GOP Tax Cuts to Alleviate Student Loan Debt

Since the GOP's Tax Cuts and Jobs Act passed late last year, Democrats have fiercely opposed it, claiming that it mostly benefits the wealthiest Americans. Rep. Jared Polis (D-Colo.) plans to introduce a new bill next week in a push to repeal the ...

Published:  Wed, 23 May 2018 10:48:00 GMT



What you need to know about the temporary expansion of loan forgiveness for public servants

The U.S. Department of Education on Wednesday released more information about a temporary program to help social workers, teachers and other public servants at risk of missing out on federal student loan forgiveness because they enrolled in the wrong ...

Published:  Wed, 23 May 2018 11:44:00 GMT



Iowa Treasurer: Student loan debt hurts state's economy

Iowa Treasurer Michael Fitzgerald, in a visit to Davenport Wednesday, said "staggering student loan debt" has long-term effects on the state's workforce and economy. "I see the debt firsthand talking to students when they get out of college ...

Published:  Wed, 23 May 2018 13:08:00 GMT



Ameritech Financial Offers Assistance With Student Loans Before Crowdfunding Becomes Necessary

ROHNERT PARK, Calif., May 23, 2018 /PRNewswire/ -- Financially speaking, many American citizens would say that they have experienced hardships. Two things that someone might be struggling with that come with the biggest price tag are medical bills and ...

Published:  Wed, 23 May 2018 10:51:00 GMT




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