Fynanz : Tips for Borrowers

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Tips for Borrowers

Borrowers should consider making an interest payment while still enrolled in school. Interest that is paid while in deferred status will not need to be capitalized (added) to the original principal balance of the loan once the loan enters repayment status, helping to reduce the debt burden on the student.
Exercise prudent financial planning and only request only the loan amount needed for the current semester. As a borrower, you can request up to four loans per calendar year.
Get started early - the longer a loan listing request is posted, the more time lenders will have to view and bid on a listing, the better the chance of achieving the lowest possible interest rate.
Encourage friends and family to review and bid on your loan request. The greater the number of bids received, the better the chance of achieving a lower interest rate.

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Fynanz Explained