<p>My schools preferred lenders are Chase and PNC bank and I'm not really sure who to go with...
Benefits [with Chase]
No payments are required while you are in school at least half-time
A six-month payment-free grace period immediately following graduation or separation from school
Flexible repayment options, including consolidation
No prepayment penalty
No credit check is required
Interest may be tax-deductible.
Borrowers may defer their payments for a number of reasons, such as grad school or military service. . </p>
<p>Benefits [PNC Bank]
0 Default Fees with participating guarantors
.25% interest rate reduction for auto debit from ANY bank account .
Easy Online application
E-signature available
Life of loan servicing
Live customer service representative for each call . </p>
<p>Would I be better off trying to find other lenders or should I get one of these for my subsidized Stafford and get the other one for my unsubsidized Stafford? Any advice is greatly appreciated</p>
<p><a href=“http://www.discovercardstudentloans.com%5B/url%5D”>www.discovercardstudentloans.com</a> doesn’t have any origination or default fees </p>
<p>No Stafford loans have credit checks, cosigners and they all have the same grace period. I don’t work for them, just a customer</p>
<p>The benefits listed with CHASE would be the same for PNC Bank if both loans are Stafford Loans. Quite honestly, CHASE is only advertising the generic federal guidelines that apply to ALL Stafford Loans, regardless of the lender used. Also, your Sub and Unsub loans are always with the same lender. Schools do not certify loans with two different lenders for the Stafford programs. You can choose a different lender if you need an alternative loan…but not Stafford Loans. Several of PNC’s benefits are available with most Title IV lenders, such as easy online applications (FAFSA and MPN), e-signature available (MPN), 0 default fees with participating guarantors (need to find out about origination fees not covered by the lender). I would look into other lenders, and also check to see who is used to guarantee the loans. Some lenders and guarantors do not work well together, which can delay your funding.</p>
<p>NikkiiL
thanks for your response and i will definitely look into other lenders.. where would you suggest i start looking?</p>
<p>Your best bet is to seek advice from other people in this message board. Lender availability is different based on the school and state. Some lenders flat out refuse to work with certain schools..primarily because the schools won’t sign exclusive deals with the lender. The students and parents here are quite knowledgeable on a variety of lenders.</p>