Are student loan lenders no longer waiving origination fees?
When I last went to college I didn’t have to choose a lender. Now I am presented with a long list and have no clue how to choose between them.
I have consulted various websites with lists in an attempt to narrow down my choices and they list many lenders that will waive origination and default fees but when I visit the website of the lender, the only borrower benefit they are listing are interest reductions.
I know some laws changed with the 2008-09 academic season and that many lenders have gotten out of student loans altogether. Am I likely to find one that will waive these fees or should I ignore that in my consideration?
I didn’t clarify in my original question, but I am asking particularly about subsidized and unsubsidized Stafford loans.
Sallie Mae charges a 2% origination fee.
Wells Fargo, Bank of America, and Chase all charge a 1% origination fee.
I don’t know about other banks. At this point in time, it’s doubtful any of these lenders will waive that fee. You can thank the housing sub prime fiasco on these changes.
Good Luck to you.
