Looking forward to ideas/suggestions/expertise from fellow Fatwalleters.

Thanks in advance.

sorry, but i'm not clear on the question. are you asking about NEW loans or consolidating?

THE/Northstar seems to be offering 7.2% fixed, with origination fee essentially refunded back to you here.

Wachovia is offering 7.9% fixed with a 3% principal rebate after 6 months (may be better if you want to pay this loan off fairly quickly) here.

AMS is offering 7% fixed with auto-debit and on-time payments, plus a 1% principal rebate after 6 months of on-time payments and another 2% principal rebate after 48 months of on-time payments. That looks pretty good! They do charge the 3% origination fee that THE waives, though. Link.

Sallie Mae offers something very similar to AMS - the difference is the timing and amount of principal rebates/credits (1% after 12 months, 1.5% after 36 months). Link.

Key Bank is offering no interest reduction, but a 6% principal reduction after 12 months. This might be better if you plan on paying it off very quickly (e.g., law or business student going straight to 5-6 figure job). Link.

nandan02 said:I am asking about the new loans----the ones which can be taken after July 1, 2006---as an alternative to Pvt Loans.

Thanks.

Sorry repost.

Thank you JeebusSaves for your input. I appreciate it.

I'm very interested in this thread, as I'll be applying for grad plus loans in a few weeks!

I believe the grad plus is locked at 8.5% for the life of the loan, am I wrong?

I've been looking at http://www.nthea.com as my parents live in texas and I can get their benefits. They offer the same benefits for plus loans as they do for staffords: .25% interest reduction with direct debit and 2.5% interest reduction after 48 payments. I can't afford an origination fee, so key or wachovia are looking good.. Whatever originator I take this year, I'll definitely choose a different one next year.. I'm not taking any chances on the single lender rule!

actually, that academicfinancing.com does look too good to be true.. 3% principal reduction ON GRADUATION, plus a .25% interest reduction and a 1.75% interest reduction for direct debit? Those terms are much better than wachovia's. How legit is the finance corporation? The problem is if they sell the loan and the company who buys it doesn't honour the loan terms..