Private College Student Loan

Who offers the best private student loans?

This past school year I took out a $25,000 student loan from Wells Fargo. I didn't do much shopping around though. Should I take another loan out from Wells Fargo, or should I take a loan out from Chase or possibly the Sallie Mae Smart Option Student Loan? thanks!

Public Comments

1. It really depends on what you can afford. Honestly, all the banks offer basically the same "rewards" and interest rates (Wells Fargo, Chase, Citi, blah blah blah). With private student loans, it doesn't really matter because interest rates can be much higher than federal loans. With the Sallie Mae Smart Option (I'm looking into it too) you are REQUIRED to start interest payments IMMEDIATELY... so unless you have a way of paying X amount of dollar each month until you graduate (after graduation, you will have to start paying the principle [interest + loan amount]), then I don't suggest the Sallie Mae Smart Loan. Find a financial institute/bank that will defer your payments until you are done with school.