This is probably the first time that you will be availing of a student loan of this quantum. Direct sales agents at the lenders or Banks are incentivized to process and close as many applications as possible as their performance and compensation are primarily based on this factor. Mis-selling has become a common practice to ensure internal targets are achieved.
At Collegepond Services, we have witnessed this trend time and again. We understand that the loan amount and repayment of the same is a significant burden to the family. Hence, we want to ensure that we are able to minimize the impact on all fronts, from reduced Processing Fee (PF) to lower interest rates and insurance amounts.Due to the sheer volume of students we work with, we have negotiated attractive wholesale deals with all the leading lenders at rates and PF charges that much lower than the industry average. Our loan sanction approval rates also tend to be higher than the industry average.