Whether you are an undergraduate or graduate student, a private student loan can help you cover up to 100% of your cost of education. There are many loans tailored specifically for undergraduate and graduate students out there to choose from.

The advantages of a private student loan include rates starting at Prime -.05%*, No payments while enrolled at least half-time and borrowers can apply for funds to cover eligible expenses from 8 months in arrears. If they are currently enrolled or graduated in the past semester, students can borrow for previous trimesters, semesters, or quarters up to eight months preceding the application date.

If there are any origination fees, they are usually automatically rolled into the total amount of the private student loan. Best of all, private student loans include a 12-month grace period after graduation, and offer other borrower benefits such as interest rate reductions.

Getting Started Is Easy. Students (or students with a qualified co borrower) qualify for private student loans with their own credit, so there are never any Federal forms to complete. With online application processes is fast and easy and can provide you with an immediate response.

Undergraduate & Graduate Private Student Loan Guidelines:

• Minimum loan amount of $1,500
• Maximum loan amount of $40,000
• Are you at least 18 years of age (19 in Nebraska, 21 in Puerto Rico & Mississippi)? Mississippi residents under the age of 21 may borrow with written consent from a parent or guardian.
• Are you a US Citizen or Eligible non-citizen (An Eligible Non-Citizen must have a Valid I551 or I151)?
• Are you enrolled on at least a 1/2 time basis?
• Verify the name of the school & state to the approved school list.

With a direct private student loan, you can cover higher education expenses up to your Total Cost of Education. Pay for undergraduate or graduate expenses from a minimum of $1,500 per academic year up to a lifetime maximum aggregate of $250,000. Other great benefits of the direct private student loan:

• No FAFSA required
• Competitive interest rates and fees
• Online decisions in less than a minute
• 12-month grace period after graduation
• Funds are payable to you and your cosigner (if applicable)
• Disbursements as fast as 48 hours from final approval
• Interest capitalizes quarterly during in-school and grace periods

Even though the cost of higher education will include more than tuition, room and board, the experience can be worth every penny. There are so many companies in place to day to make sure you have the information and resources you need to make the most of your college experience. You have many options to help pay for your education. But, if scholarships, grants and federal loans fall short, you can always apply for one of the private student loans offered by many different companies. Compare the loan features and apply for the one that best fits your needs.

All college student loans are subject to credit approval. Interest rates and student loan fees vary and are based upon borrower and/or cosigner (where applicable) credit score and other underwriting criteria. Make sure you do compare interest rates and fees of each product type.

This entry was posted on Thursday, May 22nd, 2008 at 7:19 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.