Repayment Options Investigate the repayment plans offered by each lender. Some lenders offer graduated repayment options which allow for interest only payments at first, or loan consolidation that allow you to make lower monthly payments. Also, some lenders may offer payment incentives on your private loans that reduce monthly payments.
Grace Period, Deferment, and Forbearance You may want to choose a loan program that offers a long grace period to ensure that you will have a job before you have to begin making monthly payments. Check to see if deferment and forbearance options are available.
Reputation of the Lender, Customer Service, and Other Services Check with your financial aid office or other borrowers about their experience with each of the lenders you are considering. If you call to ask questions about the loan program, pay particular attention to the customer service staff that assists you. Also, you may find that certain lenders offer additional services that can be very valuable and convenient to you.
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