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Student Loan Articles
Private Student Loans: K- 12 Educational
Opportunity ARTICLE
One of the more interesting developments in the
educational sector in the 21st century is the growing number
of parents who are more intensely concerned with their
children's learning opportunities at very young ages. In
other words, a growing number of parents are enrolling their
children in private schools and more costly educational
programs. For some parents, public schools simply are not
making the grade or providing what they feel their children
do need. (Of course, this article is not intended to be an
expose on public versus private schools. Rather, this
article merely recognizes the fact that some parents are
electing to pursue a private course of education for their
children.)
The problem that many well meaning parents face when it
comes to arranging for a private school education for their
children in kindergarten through high school is cost. A
private school education can be very expensive in many
instances.
There are now
private student loan programs that are designed
specifically to aid and assist parents with children in
grades K-12 who are interested in obtaining a private school
education for their children. Beyond providing providing
private student loans for people who are interested in
enrolling their children in private schools, there are also
private student loan programs that are designed to assist
parents with educational related programming including
paying for tutors, computers, educational software and the
like.
Generally speaking, the application process to obtain a
private student loan for elementary and high school aged
children is as simple as the process for obtaining a private
student loan for a college or university education. Indeed,
in most instances, parents can obtain word on whether or not
an application has been accepted with a week's time.
When a private student loan is awarded for your child or
children, the proceeds are paid to you rather than to the
school. This offers to you a level of control which is very
important when it comes to the education of your children in
the 21st century.
Interestingly, with the rising cost of a private education
in this day and age, some parents are obtaining private
student loans for their elementary and high school aged
children to deal with accumulated tuition bills. Some
schools will allow parents some leeway in paying tuition and
fees. A private student loan allows parents the ability to
get caught up with these financial responsibilities.
Typical eligibility requirements for this type of private
student loan are:
You must have an employment history of at least two years
(if self-employed, have been in business for at least two
years),
You must have proof of current income (and you must
maintain employment with same employer or in the same field
while you are attending school)
You must have a satisfactory credit history of at least 21
months,
You must have resided at your current and immediately
preceding addresses for a total of at least 12 months, and
You must be a U.S. citizen or permanent resident and have
resided in the U.S. for the previous two years.
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