Student Loan

A Student Loan may become necessary after savings, grants, and scholarships have been exhausted. If federal educational loans don't cover your costs; then it’s time to turn to a private student loan.

You can apply for a private loan at any time – there is no deadline. Depending on the lender you choose, you can be pre-approved in minutes and have the money sent directly to you within a matter of days.

In addition to paying tuition and fees, funds from private loans can be used to cover living expenses, supplies, computers, and other everyday living needs.

You have some choices in repayment plans that can make repaying easier and help you avoid delinquency or default. If you’re delinquent, it means you’re at least 30 days late making a scheduled loan payment. Default generally means you’re 270 days or more late in making a loan payment. Federal Perkins Loans, however, consider default as the failure to make an installment payment when due or the failure to comply with other terms of your promissory note or written repayment agreement.

For most loans, your principal and interest payments can be deferred while you are enrolled in school. Another option is to just make interest payments while you are in school and defer paying on the principal. Your interest payments might even be tax-deductible.

Many students find it advantageous to combine their various loans into one student loan consolidation.

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For complete information on all your financial needs, turn from student loan to the home page.

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