<p>What lender have you selected for the Emory Stafford Lender? I'm really confused as to the various descriptions and what they mean. Any inputs/thoughts?? </p>
<p>Here are the choices:
T.H.E. (Total Higher Education)
T.H.E. offers 0% origination and guarantee fees for all Stafford Loans. All borrowers in repayment and less than 60 days past due qualify for the T.H.E. Bonus, a monthly credit equal to a 1% interest rate reduction and a 3% rebate on origination fees within six months of fully funding the loan.
Phone: (888) 843 - 0004
Website: theloanprogram.org
Lender Code: 866529
Edamerica
Edamerica will take 1% off the origination fee for all Stafford loans. After the first 33 payments are received on time through auto-debit, borrowers receive a 4% reduction in the principal balance rebate.
Phone: (800) 337 - 1009
Website: edamerica.net
Lender Code: 831453
Wachovia / Education Finance
"Triple Payback" - Receive a rebate in the form of cash or credit in the amount of 3.5% of your Stafford loan's original principal by simply choosing Wachovia each year and taking advantage of the convenience of having your loan payments drafted from your bank account: (1) Immediate 1% rebate at repayment. (2) 12 months of consecutive scheduled on time auto debit payments, you will receive a 1% rebate of your original principal. (3) At 24 months you receive another 1.5% rebate to complete the triple pay. The savings could equal up to 4.70% for Stafford loans when incentive is credited back to the original principal amount.
Phone: (800) E D U C A I D
Website: wachovia.com/education
Lender Code: 830005
Nellie Mae
Stafford borrowers will get a 3% origination fee credit of their original loan balance to their account at repayment. To activate the Stafford loan benefits, students must register online with Nellie Mae's "Manage Your Loans" service. A credit or cash back of 3.3% is applied based on original principal amount of eligible Stafford loans after making the first 33 payments on time.
Phone: (800) 634 - 9308
Website: nelliemae.com
Lender Code: 829076
Citibank
Citibank Stafford Loan borrowers receive a 3% principal balance reduction at repayment. The interest rate is reduced by an additional 2% for students making the first 48 consecutive payments on time. Borrowers who sign up for Citibank's E-Z Pay to have their loan payments automatically withdrawn from their bank account can take another 0.25% reduction off their interest rate.
Phone: (800) 967 - 2400
Website: studentloan.com
Lender Code: 826878</p>