According to a new report issued by The Project on Student Debt, one-third of all college students who graduated in 2009 were carrying private student loans, and private student loans accounted for nearly one-fourth of all student loan volume in 2007-08. College students who graduated with private student loans owed about $12,500 in private loan debt.
Private student loans are usually the best option after federal student loans, so if you are not accepted in the government student aid programs, your next best choice would be trying a private lender.
Many ways exist to ease the financial burdens of a college student, scholarships for one, but a private loan may be a necessary supplement. The student should weigh the costs versus the benefits.
When it comes to consolidation, private student loans and federal student loans are two different creatures. Consider some moves to ease the payment burden for private student loans.
Borrowing money from a private bank is an option for both those who have private student loans to refinance, as well as those who wish to refinance federal student loans.
Private student loan consolidation is an option for those private loans has become less manageable. Your old private loans are merged and you are presented with an easier financial responsibility of dealing with a single monthly installment.
Private Student Loans – ... the mythsIf savings, grants, ... and federal loans don’t cover the cost of your ... it’s time to turn to private loans. But young college students c
Industry analysts speculate that the volume of private student loans, which had dropped in 2008-09 and 2009-10, is poised to make a comeback as federal funding for education declines, especially among private, for-profit institutions.
You can choose your repayment plan depending on what kind of student loan you have taken. There are two kinds of loans: private student loans and federal student loans. Rules are different for both the loans. Private student loans not being a federal fund, has very fewer repayment options.
This article reveal the fact that majority of Federal student loan programs provide substantial amount of financial aid without credit checks. Discuss the pro and cons of applying for private student loans.
Graduation means the end of student loan deferment and the start of expected repayments. But debilitating college debts are not easy to clear. By consolidating private student loans the pressure is eased.
The popularity of private student loan consolidation is no great mystery. However, like all financial matters, it is important to consider all the details before entering into any consolidation agreement.
A private student loan is a different type of loan than a government student loan. Learn how you can qualify fast.
How to get a private student loan if you have bad credit. What is the interest rate and requirements of the loan?
Private student loans are another alternative that can rescue students who have a bad credit history. Many students apply for private loans as a supplement to their Stafford or Perkins student loans.