<p>I'm filling this out right now and I realize its kind of late. But while filling out the thing, it asks for "lender" and the options are either Citibank or Nellie Mae or something. I thought I was borrowing from the government? arent staffords subsidized? sorry, i know im kind of stupid when it comes to financial things, so can someone tell me what i would put for that...either citibank or nellimae. does it matter? do i just randomly put one down since its only who will lend me the money?</p>
<p>Technically, it doesnt matter. I chose Citibank for mine simply because my parents have gone through them for loans before. Honestly, it doesnt matter who you go through since its a federal guaranteed loan. Yes, the loan is by the government through a private company like Citi or Sallie. </p>
<p>It is NOT subsidized unless it SAYS SO. When you plug in your info it will tell you what you qualify for - dont worry.</p>
<p>ok chill. but i thought ALL stafford loans were subsidized-- meaning it's through the government and interest rates are low, correct?</p>
<p>no, there are subsidized and unsubsidized. The loan is not from the government, but in a way the government "issues" it. What I mean is, the government is the one telling you "Yes, you qualify for this loan and can use it to fund your education," or, "No, you do not qualify and can't use this loan to fund your education." That doesn't mean they are the ones giving you the cash out of their own pocket. You have to choose a lender. A lender is a bank or service that gives the actually money for the loans that you have qualified for, and you will not be paying back the government when you pay for the loan- it will be paid to the lender.</p>
<p>The difference between a government issued loan and a private loan is all about the FAFSA. You get gov. loans based on FAFSA and whatever they decide not to give you in govt. loans you have to take out in a private loan. Private loans are not based on academic ability, financial aid, etc. etc. They are just money that you can get if you need it (and have good credit, haha).</p>
<p>So, that means you will have to choose a lender for every loan. (Except Perkins, b/c NYU is the lender for that loan) I chose Nellie Mae because the interest was a little lower, I think, and they had some better options, like getting a certain percentage of your money back if you pay on time and what-not. Just click on the links and read more about them, and decided which is best for you.</p>
<p>lets bump this topic..even after an entire year lol</p>
<p>what private loans did you guys choose (if any)? i'm still in the process of selecting the stafford lender...i guess its between nellie mae and citibank</p>
<p>sallie mae</p>
<p>I chose citibank. No origination fee and no default fee....whatever those mean.</p>
<p>sallie mae</p>
<p>i ended up choosing citibank as my lender for the stafford loan.</p>
<p>what about those unwanted private loans? what lenders have you guys chosen?</p>
<p>nellie/sallie Mae....it sounded like the better out of the two when I looked at the details. Many options. Check out their website for NYU students for all the details</p>