March 2008 - Student Loans Companies
There two types of loans when you borrow, FEDERAL or Private
student loans. Federal loans are most commonly known as Stafford loans,
though the government's loan program also features a federal consolidation
loan.
These government loan amounts have always been low and have
not caught up with the total costs spent with today's college education.
There became a demand for more money to cover college and private student
loans filled the need, eliminating the gap between what college actually
costs and what the government's current lending amounts are.
We feature private, aka alternative or personal student loans in our directory for parents and students to
compare, then apply online if desired. Private student loan lenders featured
here lend up to $40,000
a year.
Chase private student loans - details
on their private student loan and access to their online and telephone application.
Citizens Student Loans - Up To $40,000 a Year. Defer Payment Until
After You Graduate - call 1-800-708-6684
Act Private Student Loans - Borrow up to $40,000 per
year. No Repayment until after graduation. Funds sent straight to you in as
few as 5 business days. Interest rate reduction of up to .50% and co-signer
release upon qualification
Financial food for thought: Don't overextend, borrow only what
you need. Interest adds up. The interest rate that you get on your student
loan can be the part that makes or breaks the viability of the loan for you.
Especially on longer loans, interest can really add up. It is always a good
idea to look carefully around until you find the best possible interest
rate.
Many college students forget to factor in interest when they work out a plan
to pay off their loan once they graduate. If you don’t expect to make a lot
of money from your career for a while after you graduate, then you really
want to avoid high interest rates.
The reason for this is that you probably
won’t be able to make extra payments on your loan like those with higher
incomes will, which means that interest will probably hurt in the long run
as your principal remains high on your loan for years.
Copyright 2008,
Alternative student loans
for college education. All state local lenders listed are licensed as
are the National companies. Learn loan basics:
