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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

Student Loans: What Is Consolidation Vs. Student Loan Refinancing

When it comes to student loans, this is one of the biggest choices. Student loan consolidation or student loan refinancing The decision is an important one, and could mean tens of thousands of dollar...

Published:  Mon, 16 Jul 2018 05:32:00 GMT



Can You Refinance Student Loans

You can refinance student loans. Opportunities to do it have been growing since SoFi, a San Francisco-based lender, began offering student loan refinancing for both federal and private student loans i...

Published:  Tue, 17 Jul 2018 09:03:00 GMT



Student loan scams are on the rise

People are getting calls, in which they're promised student loan forgiveness or reduced payments. Often times these companies make the situation a lot worse. First, you receive a call about your stude...

Published:  Tue, 17 Jul 2018 06:50:00 GMT



CFPB says Department of Education is obstructing suit against student loan giant

The Consumer Financial Protection Bureau is accusing the Department of Education of getting in the way of its lawsuit against a student loan giant. The accusation from the consumer watchdog comes in a ...

Published:  Sun, 15 Jul 2018 14:21:00 GMT



Delaware student loan collection company Navient defends services as lawsuits pour in

Delaware student loan collection company Navient defends services as lawsuits pour in The CEO of Navient defended his student loan company saying it is a convenient scapegoat for a credit industry wit...

Published:  Tue, 17 Jul 2018 09:37:00 GMT



What This Navient Lawsuit Means For Your Student Loans: Q&A

If you have a student loan, there is a good chance that it may be serviced by Navient. Navient, which spun off from Sallie Mae, is the nation's largest student loan servicer with more than 12 million ...

Published:  Tue, 17 Jul 2018 05:32:00 GMT



As student debt grows, so do the scams

First, you receive a call about your student loans. The person on the other end offers to lower your monthly payments or make your debt disappear all together, potentially for a fee. Sounds great, rig...

Published:  Tue, 17 Jul 2018 06:54:00 GMT



Do you have what it takes to pay off your student loans

Graduating college is one of the best and worst feelings in the world. It's the best because, well, you're finally done with undergrad. It's the worst because once you're out, suddenly you're on your ...

Published:  Tue, 17 Jul 2018 17:53:00 GMT



People Are Finally Starting to Take Mass Student Debt Forgiveness Seriously

TruTV's latest quirky new offering is a game show where recent grads compete for a chance to have all or part of their student loans paid off. If the idea of watching members of our generation duke it ...

Published:  Mon, 16 Jul 2018 13:45:00 GMT



Ask the Underwriter: How are student loan payments calculated when qualifying for an FHA loan

Ask the Underwriter is a regular column for HousingWire's LendingLife newsletter, addressing real questions asked to, and answered by, professional mortgage underwriter, Dani Hernandez. My borrower ha...

Published:  Tue, 17 Jul 2018 10:50:00 GMT




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