Going to college is an extremely scary prospect, and it’s not hard to see why. You’re likely moving away from home for the first time in your life, something that can create lots of stress and hardships. You also have to deal with meeting new people, integrating into a new community, and making all new friends. However, perhaps the most stressful part of college is the financial aspect. You are expected to take out thousands of dollars in loans and worry about things such as student loan interest rates, financial aid, and repayment periods all while extremely young. The decision you make with your student loans can potentially have ramifications decades into your future, so it’s important that you get the decision right. So what are the best student loans to take out in 2020? Let’s take a look.
One of the first private lenders that comes to mind when looking for student loans should be Sallie Mae. Sallie Mae has been serving customers for decades as a government entity, before transitioning to a private lender in 2004. As a private lender, Sallie Mae has lent out to millions of students and helped them pay for their education. Sallie Mae has been lauded for their great customer service, something that is key when dealing with such an important topic. Another great thing about Sallie Mae is their loans cover everything, including tuition, meals, campus housing, travel, and books. Sallie Mae is a high-quality lender that you definitely should consider doing business with if you need a student loan in 2020.
Citizens Bank is a very famous and well respected financial bank, but the company is also great as a student loan lender as well. Citizens Bank offers a wide variety of interest rates for you to choose from, allowing you to tailor your student loans to your financial position. One of the best things about Citizens Bank is their multi-year approval policy. Other student loans may require you to be approved multiple times in order to take out multiple student loans, but Citizens Bank can allow you to skip the frequent credit checks as long as you pass the initial one. If you’re looking for a lender that is reliable and easy to work with, then Citizen Bank can be a great choice.
Discover is a relatively popular company in America, although they are not traditionally known for their student loans. That being said, Discover does offer several features that makes borrowing from them an attractive prospect. First, Discover lacks many of the hidden fees that other borrowers may charge you. These fees include things like application, origination, and late fees. These fees can really add up, so you’ll definitely notice the absence of them. Overall Discover is a quality lender, and they are a great place to get your student loans from.
A lesser-known student loan lender that you might not have heard of yet is College Ave. College Ave has a lot to offer students, primarily through their flexibility. Student loans from College Ave can cover all sorts of different amounts, making College Ave one of the most flexible lenders out there. In addition, there are all different sorts of repayment plans and interest rates to choose from, further adding to the company’s flexibility in student loans. If you’re looking for a student loan lender that can be flexible enough to fit any financial situation, then College Ave might be a perfect choice.