Sallie Mae versus College Loan Corporation?
Tuesday, July 21st, 2009 at
10:21 am
mlaw925 asked:
I need to take a few classes, and I am planning to take out a small private student loan. I have heard some negatives regarding Sallie Mae — anyone have positives for them? Anyone have a loan from CLC? Are interest rates comparable? Any preference of one over the other? Thanks for the help.
I need to take a few classes, and I am planning to take out a small private student loan. I have heard some negatives regarding Sallie Mae — anyone have positives for them? Anyone have a loan from CLC? Are interest rates comparable? Any preference of one over the other? Thanks for the help.
Tagged with: Interest Rates • Preference • Sallie Mae
Filed under: Student Loans
Like this post? Subscribe to my RSS feed and get loads more!
We need more info. Is this a federal loan? If so, the interest rate will be the same no matter who you choose to go with. All federal loans are taken out at the same interest rate.
The only difference here is probably 2 things. 1. Different lenders offer different types of benefits if you choose them as your lender (i.e. a 1% reduction off your interest rate after making 36 on-time payments) 2. Customer Service. I work for a student loan servicer, and while I have never had to personally deal with Sallie Mae, I have heard nothing but bad from the borrowers who came from them or have had to deal with them. When you call for customer service their reps are foreign and you can’t understand what they are saying.
This is all hearsay though. I have heard of CLC but have had no personal dealings with them so I haven’t heard anything good or bad. I think they are a slightly smaller company than SLMA as well. Good luck!