Private Student Loans

Private Student Loans are available to students that need financial assistance to obtain their degree and yet are either unable to receive Federal financial aid or, are in need of additional funding beyond the amounts which received from Federal financial aid. There is a growing trend towards Private Student Loans which is increasing at a rate of 25% every year.

Interested in applying for Private Student Loans?
Apply for Private Student Loans today.

It’s suggested that student that wish to receive funding for a college education first exhaust all efforts in obtaining Federal Student Loans before applying for Private Student Loans. Furthermore, the applicant should file their FAFSA, to determine if there are any other types of student aid programs for which they qualify.

Some of the benefits to Private Student Loans are:

Fast application process ¬ The time that it takes for determination on Private Student Loans is typically very fast and at times may be done within a few minutes.

Flexible payment options – Undergraduate students may choose to defer the payback of the interest / principal until after graduation; there are also options available to begin paying Private Student Loans back immediately, or for a marginal deferment period.

Easy qualifications – The qualifications required to be accepted for Private Student Loans are generally significantly easier than with the FFELP and Direct Loan program Loans.

Affordable monthly payments – For students which choose to start paying their Private Student Loans while still attending college, the payments are relatively affordable.

It is important for students that are interested in receiving Private Student Loans to first consider all of their options for Federal Student Loans. Private Student Loans are not guaranteed by a government agency and are provided by banks, lending institutions and finance companies.

It is also recommended by industry professionals that students whom receive Private Student Loans do so in combination with one of the Federal student aid packages to reduce the higher loan costs associated with private funding. Students that are interested in receiving Private Student Loans should also be aware that there may be a one-time, loan origination fee, based on the amount of the loan which the student will be required to pay as well.

Interested in applying for Private Student Loans?
Apply for Private Student Loans today.