EducationFinancePartners.com? Please Help Me!!

Is this a private student loan company? No, I have not dealt with them, nor do I know anything about them. I did apply for a private loan through Bank of America called an education maximizer loan. I can't remember the exact requirements, except for you had to obviously be in school. You might want to check out their website.

Private loans are all interest bearing from day one and they generally have a higher interest rate than governmental loans. They have extremely limited deferenment and forebearances.

Problem with a lot of these secondary lenders is that they frequently sell off their loans with leave a bunch of extra tradelines on your credit report.

So, if they say that no payments are required during school, does this mean that interest does still accrue, but I can just start paying off the principal plus interest after I graduate?

With Private loans, no payments are required but interest starts accruing from day one.

A lot of private lenders offer or require interest payments while you are in school. Check around and make sure you have the best rates and terms.

Thanks SoapLady! This is just what I need...=)

Me too! This has helped me a ton...I still need to figure out whether it would be worth it to get a private loan or wait until 2008 for FAFSA now.

If my parents just got divorced, I can report only one of their incomes, correct? Their income was the reason I could not get anything from FAFSA before, but I', sure I could now.

Any advice?

Infinity.....you just posted that allied is calling you...is that on a student loan?? If so, you are in default and you would now be ineligible for financial aid which includes all loans and grants.

ignore my previous post. I got names mixed up..sorry!