<p>My son will probably use Wachovia ior Citibank if he needs a small private loan (I’m checking EdAmerica too)but they all seem similar, He has had Sallie Mae for Stafford loans for the last 2 years…will consider switching this year but will have to look into consolidation considerations. Some banks aren’t offering that so it is something to look into.
It seems in most of the stories I’ve heard about Sallie Mae and payments, they were “paper payments” not online. Many students have complained about late checks, etc. and I wonder if it would be better paying online if possible or auto-payment? My nephew had Sallie Mae and had a problem with deferment and paperwork when he was laid off, but didn’t have a problem with them getting payments or applying them correctly.
When I pay the interest on my son’s loans, I see it is applied within 2-3 days and I can check how much principle vs interest was deducted depending on the amount. I also get about 2 emails with every payment to tell me it was applied and the amount and confirmation number.
I wish my NJClass parent loan was online…they are a bit behind the times that way, but the lower interest rate couldn’t be beat elsewhere.</p>