<p>The percentage lenders take out of a student loan, do you have to pay that back to the school? Or is it forgiven? Or is that part of the fees you pay?</p>
<p>that is part of the fees you pay. You will still owe that part back when you repay</p>
<p>If you have 1% taken out on a 1000 loan, then the school is only sent 990, but your loan amount is for 1000</p>
<p>Not all lenders take fees out for stafford loans.</p>
<p>[Discover</a> Student Loans - Apply online for college loans](<a href=“http://www.discoverstudentloans.com%5DDiscover”>http://www.discoverstudentloans.com) took NO fees out of my son’s stafford loan this year (last years lender started taking out fees). Some people feel that discounts for repayment are worth paying a fee for, I didn’t so we went with a no fee lender</p>
<p>Ok, that’s what I thought. When I took out undergrad loans I did the no fee thing. But I don’t have a choice with my graduate loans. Thank you.</p>
<p>Is your school a direct lender school? If so, you are stuck with the loan fees. It’s not all that much, but it’s the point of it … if the school is direct lender, there is no choice but to pay the fees.</p>
<p>Yes, for my Stafford loans I had to go with a direct loan. For my Grad Plus Loan, I stuck with a lender I already had and they charged fees too.</p>
<p>I find the fees annoying. My daughter’s school is a direct lender and charges the fees so she received the loan less the fees. Seems silly when the loan is awarded because of need then you don’t get it all. My son’s school is not a direct lender and the lender he borrowed from does not charge fees so he got the full amount of his loan.</p>
<p>Not a vast amount but it is annoying.</p>