College Students: A Question For You...

[morostheos]

SalliMae is notorious for being unfair to their lenders if anything goes wrong and you can't pay on time, I wouldn't recommend them.

[quote]60 Minutes segment (originally aired May 7, 2006) examined Sallie Mae, including its business practices.[3] A professor of law at Harvard Law School, Elizabeth Warren, who is also an expert on bankruptcy and an outspoken critic of consumer lenders, questions Sallie Mae's dual role as both lender and collector.[4]

In February, 2007, New York Attorney General Andrew Cuomo launched an investigation into alleged deceptive lending practices by student loan providers, including The College Board, EduCap, Nelnet, Citibank, and Sallie Mae.[5] On April 11, 2007, Cuomo ended his investigation of Sallie Mae and announced that Sallie Mae had voluntarily agreed to: A. Change its lending standards to satisfy a new code of conduct for student loan practices established by Cuomo and B. Donate $2 million (USD) to a fund devoted to educating college-bound students about their loan options. [6]

Many Internet sites allege problems with Sallie Mae customer service or multiple telephone calls each day, even to people who aren not Sallie Mae borrowers or co-signers. Sallie Mae is extremely aggressive in its collection procedures.

On October 10, 2007, documents surfaced that Sallie Mae was attempting to force colleges to turn over students' personal information using the Freedom of Information Act as justification. The university involved, the State University of New York system, is expected to decline the request and then be forced to defend its position in court.[/quote]
[url="http://en.wikipedia.org/wiki/Sallie_Mae"](From the Sallie Mae wikipedia article)[/url]

[beata_virgo_maria]

Also, I would recommend calling your school's financial aid office and seeing if they have a list of preferred lenders.

[Anastasia13]

I used Sally Mae. As I recall, cause this was when I first started at a four-year school, they worked well for us. I believe it is good advice to check with your financial aid office to see who works well with them.

[let_go_let_God]

I've used citibank and they've worked out well for me. I would just look for lenders that best suit your needs though, as well as going through the financial aid office.

God bless-
LGLG