Help with student loans

[lize566]

I don't know if there is anybody here that knows anything about the student loan process, but I am so confused!! Basically I am lost on how to pick a lender. Here is the link to the most popular lenders. I have been approved for an xx amount of subsidized and an xx amount of unsubsidized. Now I have to choose a lender and a loan amount. I assume that my loan amount is a number I choose based on tuition and what I estimate books will be, right? Here is the link for the available lenders https://vhost.louisville.edu/student/services/fin-aid/devfinaid/loans/gradprofpluslenders.php. I would REALLY appreciate it if someone could take a look and sort of translate it for me! Actually, any direction that anybody could offer would be helpful lol. Thanks in advance!

[KMS]

My computer is acting up so I couldn't completely open the page! However, when I picked a lender I chose Wells Fargo simply because I had worked with them before and always gotten good customer service. I have had a very positive experience with them. Yeah you just choose how much money you think you'll need and apply for that much. However, it's ultimately up to the school if they think you should have that much.

[Kfancii]

All I can offer is that read all the fine print carefully. I know that here some of the lenders charge orgination fees and some don't, so if you choose one that doesn't charge those fees, you actually end up with more of your loan money in your pocket. Can your Financial Aid counselors at school not help you to understand the different lenders? I would think they would be the best versed in the lenders available to you.

[snowflakebride]

Definitely look at the interest rate, as well as the "fees paid by borrower" under each of the lenders. Depending on how much you take out, this determines how much extra you'll be paying back by having a loan.

[lize566]

Somebody else said to just pick one i feel comfortable with. I guess they all come out about even in the end. Maybe I am stressing too much about it...it's just so confusing and so much to think about!

[lize566]

Definitely look at the interest rate, as well as the "fees paid by borrower" under each of the lenders. Depending on how much you take out, this determines how much extra you'll be paying back by having a loan.

What does the fees paid by borrowers mean?

The financial aid people would be able to help me, but they close at 5 and I can't get down there without leaving work early and I really don't have the money to take off work. I will probably have to do that anyway, but I was just hoping it was simple enough to understand on my own.

[snowflakebride]

It means that you would have to pay that percentage of your loan to the lender, on top of interest.

[LadyDante]

I went with Wells Fargo, cause I already had an account with them and wanted to keep everything together.

[Ninedays9]

My school pretty much told me they were all about the same (the ones that had them for our school). I just picked one and went with it... maybe not the wisest thing, but I wanted my financial aid over and done with 'cause I was late in applying (this was 6 years ago).