<p>I recently received a chort letter from a company called the Education Loan Center in San Diego, CA. It said that I might be eligible for financial aid. Has anyone heard of this company? Just wondering if it was legitimate because I have no idea how I got to be on their "records." Or maybe I am just very paranoid. :P</p>
<p>Probably legitimate, but not necessary. Unfortunately, there are many "non-profit" arms of for-profit companies out there that offer free seminars to teach you about financial aid - but when you get to the seminar, they spend the whole time telling you how difficult it is for the common shmoe to figure out the forms and make the best financial aid decisions, and then suggest that you sign up for an individual for-fee session. You don't need them. The colleges will have all the info about loans that you need, and you are eligible for financial aid because of your assets and income -(or lack thereof....). You don't need this company.</p>
<p>Student loans is just like anythng else-there is a seller and there is a buyer.
For student loans the seller may be a third party (Student Loan Center or any other, The school, the bank, or even salle mae). The third party makes a commission in selling the product, even if you get the loan directly from the school- the school makes the SAME commission. </p>
<p>Mortgages, credit cards, auto loans, and everything else that is bought and sold works similiarily. It is just that people don't see "money" as a product, which in fact it is and which makes more money than anything else. </p>
<p>The sponsers of this board, may pay the owners of College Confidential, money for every hit they get, perhaps they even pay CC money for every time their ad is displayed. The sponsers may even pay CC a larger commission if you get a loan that originated from CC.</p>
<p>The questions any consumer need to ask is whether you are paying too much for what you are getting. Never buy on price but on value. In the case of government-sponsered-enterprised loans as staffords, plus, ford, etc, the information is carefully described to you the buyer and there is slight to neglible difference if you get it from one vendor to the next. Just because you have never heard of this company does not mean that it is offering a poor product- it may in fact be offering a better product.</p>
<p>I always recommend that you compare offers from knowlegible AND competent places. And often seek an opposing view to discover why a product is better than another. This is called free enterprise, let the seller compete for your business. Unfortunately, in the US, money is not seen as a free enterprise product. (I will probably get flamed for this last statement, so do your own research)</p>