Private Loan

A private student loan is an option for students who prefer not to borrow money from the government or from Sallie Mae, or who have not been fortunate in obtaining grants and scholarships from both private and public foundations. The interest rates could be slightly higher than say a federal Stafford loan or a Perkins loan, but if the student, or his parents, has a good relationship with a private lender, the rates and terms could be negotiated…and often in a friendly manner.A private student loan is sometimes called an alternative student loan and could be any type of loan, … Continue Reading

Thinking about getting a private student loan? These loans have some pros and cons, good points and bad points. Take a look below for the reasons for and against getting one of them to help you fund your college degree.Also, at the end, you’ll find a few extra tips on how to pay for college and what to avoid.Pros and Cons of Private Student Loans1. Pro: Easy to GetOne of the reasons students like loans is that you can almost always find one. These loans come from banks and other lenders, and they don’t have the same deadlines that government … Continue Reading

College Student Loans : Federal and Private LoansWhen a student or parent sets out to obtain a loan and/or financing a college education there are a many different sources they can go to in order to acquire the funding necessary. However, there are two different categories of loans which are either federal loans or private loans.As for federal funding for college, in many cases it is much easier to get the financing if you fit the criteria set in place. By far, one of the most popular federal student loans is the Stafford loan. There are two types of Stafford … Continue Reading