Does anyone have any experience with these types of government loans? I qualified for a $1,000 unsubsidized loan (whoopee, I know - but it's 1k less in private loans!) Anyways, I signed up for it through Sallie Mae and have never used that company before. I only got around $985 of the $1000 applied to my tuition balance....any ideas why?
I have one of these loans. Although, I'm not sure why only $985 was applied. Unless that was your balance and you'll get a check for the other $15. However, it's been a few years since I initially got mine and Sallie Mae has had some issues since then.
I am not thrilled to be using Sallie Mae, I do my private loans through Chase bank and that works out well. I am just going to do my gov't loan for 1k each semester through Sallie Mae...I figure it is not as bad as taking out $50k+ in loans from them. I've heard many bad things.
The $985 is weird...maybe it's some processing fee lol who knows. Lord knows there are not enough fees associated with college! I just love my $250 "Comprehensive fee". I asked what it was for. They just said it's "comprehensive - it includes many fees".
I said I'd rather see them categorized, but apparently they don't do that. You blindly pay the $250 and don't ask questions.