How To Apply For A Private Student Loan
Learning about the different private loans available is the best way to find the one that best fits your needs.
Tip:
Refinancing private student loans could save you money on interest and streamline repayment.
You Better Shop Around
- A good place to start learning about your options is your college’s financial aid office, which may have a lender list
- Compare what each lender has to offer in terms of fees, interest rates, and repayment options
Read The Fine Print
- It is extremely important to read the terms and conditions to avoid any unpleasant surprises
- Compare the terms and conditions of each lender when you are shopping around
Don’t Overborrow
Borrow only the amount you need for tuition and related expenses so that paying it back is more manageable
Consider Finding A Cosigner
- A cosigner is especially helpful if you are an undergraduate or a student without a steady income or credit history
- You have a better chance for approval if a parent or other creditworthy individual co-signs
Take all the Advice you Can Find
Ask your counselor, or anyone else you trust, to learn more about the do’s and don’ts of taking out student loans
There Are Many Types of Student Loans
The two main types of student loans are federal and private. Within each type are subsets that might appeal to you based on your credit history, financial need, and other factors.
Federal loans were established to help students with limited funds, or a poor credit history, receive a good education. Private loans offer customized options to students with a strong credit history.
Federal Student Loans
Private Student Loans
Fees
Borrowing Limits
Interest Rates
Cancellation Policy
How to Apply for a Federal Student Loan
How to Apply for a Private Student Loan
Repayment Options for Federal Student Loans
Repayment Options for Private Student Loans
Forgiveness Options for Federal Student Loans
Tax Implications
Pay off your Student Loan Debt
- Discover How Much You Could Save
- See How Quickly You Can Take Back Your Life
- Never Pay A Fee Until An Account Is Settled
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Now I wake up knowing that I am paying off my debt, it’s like a weight lifted off my chest and I can breathe a bit more.
“The anxiety is gone, I am credit card debt-free. And that right there, I never thought I would be able to say those words, and it just feels so good.”
Michelle saved 23% on her debt
Now I’m able to go on vacation for the first time in a long time- I was able to go and relax. I couldn’t do that before.
