Why Use A Third Party Marketer For Education Lending?

Authored By: Daniel Rivera

When shopping for a student loan for yourself or a family member you might find your options very limited, and sometimes very confusing. Traditionally, you have had two options. You can seek financing advice from the schools financial advisor where you or your child will be attending, or you can use the internet or yellow pages to find money for tuition, books and board.

Recently, a third option has become available to borrowers for experienced unbiased advice and funding for college. Third party marketers can answer questions about interest rates, length of repayment terms, payment size and how to deal with unexpected situations that arise during the application process thru the repayment period. Since they represent you and not the interests of the college or the lender they can recommend lenders that are easier to work with, that have better interest rate discounts and that would have better customer service. By not being tied to a particular lender or school, the third party marketer can suggest lenders that are best suited to your needs, especially long term needs as they apply to post graduate repayment.

A good example of a similar situation you currently encounter when trying to finance an education is the automobile business. You can finance your car purchase right there at the dealership. While this will make the purchase experience very smooth and “painless”, the interest rate is usually higher than rates that might be found at credit unions or even banks if you took the time or had the opportunity to shop. Conversely, using a bank or lender you found in the yellow pages or on the internet says little about their knowledge or customer service, and could hinder the purchase process. In either scenario, the seller looks out for the sellers interests and the bank looks out for the banks interests, and either one is looking to make as much money as possible in the transaction.

A “Third Party Marketer” exists solely as a customer service entity. In the case of most loans there are absolutely no charges made to the consumer. The third party marketer brings borrower and lender together and is paid by the lender for arraigning a successful transaction. Most borrowers do not know that they have options in securing financing for their education, and that accepting the wrong option could cost them tens if not hundreds of thousands of dollars unnecessarily during the repayment of the loan.

For questions about existing student loans, if you or a friend will need a student loan in the near future or if you have a soon to graduate high school senior you should call a third party marketer. Remember, you education will last a lifetime, your student loans should not.

Daniel Rivera is President of Federal Student Loan Solutions an experienced third party marketer. For more information visit their website www.fsls.net

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