<p>Hi:</p>
<p>WellI took your advice and change the fafsa, the efc dropped from 3304 to 3054. I don't know if it will benefit us in any way, dont it's worth the shot.</p>
<p>Thanks so much for all of the ideas......</p>
<p>It should increase your Pell a couple of hundred dollars. By the way you are eligible for the same Pell wherever your daughter goes to school. Good luck with everything.</p>
<p>My daughter was also given a subsidized Stafford loan and I am also quickly becoming boggled by the choices we need to make. Is Keystone Best really our best option? (we are PA residents) Anyone have suggestions for lenders to use (or not use)?</p>
<p>My son used AES through Keystone Best and is now working and paying it off and has reported (to me) no problems.
I think the current interest rate (6.8%) being charged now is absolutely horrible but there is nothing to be done about that.</p>
<p>If (and this could be a big if) I am not mistaken you can get a Keystone Best Stafford through AES but you still have to select a lender, AES does not,(is not) the actual lender. Here's something they use to describe themselves on the AES website: "PHEAA's public service mission is powered by AES, our national commercial business enterprise."<br>
My daughter's school, Eastern University, has a list of suggested lenders but sifting through them is nerve racking, especially since I have read it is recomended that you use the same lender for any additional loans you may need to finish financing their education. This means trying to look at options they offer not just for the Staffords but the Parent Plus and Alternative Loans also. That's why I was hoping someone out there had been down this road and had some tips to share.</p>
<p>Sorry about that, I think that has expanded greatly since my son chose his original lender and the whole student loan fiasco exploded.
Personally I would look for those with no fees, & possible reduction in rates for paying through direct debit.</p>
<p>I have a few thoughts for you from the perspective of a recent graduate of PSU.</p>
<p>As for the Stafford/federal loans. Yes, AES is the "servicer" or the loans, however, you must find a lender. I had an excellent lender PSECU, however, I am unsure if you can become a member while not living in state. Although, I do know once you are a student you are eligible to join PSECU. I would look into them.</p>
<p>As for the private loans. Penn State recommends Citi Bank's CitiAssist, so I went with them all four years. I varied between $14000 and $20000 a year depending on how much my stafford and PHEAA was each year (it used to go up each year over the four years, not as likely now). You can go with almost any large lender such as MBNA, Citi, etc. </p>
<p>The money can be applied for and approved now, just be sure that you apply for enough for the whole year, and any extra that may be needed for summer classes next year, or down payments on an apartment for the following school year (usually starts around February). Once you are approved, the school is notified. When you receive your bill in August or so, it will just state the amounts that they are deducting for "room", "meals", "tuition", etc. Anything that is left over, the first day of school, will be distributed into your eLion account. Which on that same day is when the loan is then "active" and begins to accrue interest.</p>
<p>The reason for the difference between campuses is the activities and facilities fees, etc. The tuition for commonwealth campuses is all within the same realm, and housing costs differ. Have you considered a different campus, to bring down the cost of living? </p>
<p>Is it impossible to borrow $20,000 a year? No. Is it a pain in the rear once you graduate, well, I'm getting by. I have a nice house, a new truck, and a good lifestyle. I just have to be sure to pay my $700 or so a month to the lenders to keep them happy too. I'm glad that I made the decision to get my $80,000+ piece of paper from Penn State.</p>