Private Student Loans
Private loans are usually the most expensive option for funding higher education, with most parents and students preferring to use them only to cover costs not covered by grants and federal aid.
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On the other hand, with so many financial companies trying to get your business, it can be possible for savvy parents and students to negotiate loan arrangements that are to their advantage, and to benefit from the greater flexibility in private loan programs.
Collegiate Funding can help you find the best options for your individual needs and avoid the pitfalls of private borrowing.
for a “behind the fine print” guide to the larger loan companies policies.
Private loan companies offer rates that are generally governed by prevailing market terms, which are almost always higher than those guaranteed by federal loan programs.
These loans usually have a variable, not a fixed interest rate, which means that the cost of borrowing may go up substantially over the life of the loan.
They often come with additional costs, such as origination fees, and penalties.
They usually have to be repaid before the student graduates
They usually do not offer deferment and forgiveness options,
as federal loans do
We recommend taking private loans only as your last option because:
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