The reasons we recommend these considerations are:
- Often a student is eligible for some types of aid that do not need to be repaid such as federal and state grants and scholarships.
- In most situations it is also possible for a student to receive some type of Federal Stafford Student Loan. Stafford loans often have better interest rates and more favorable repayment and loan forgiveness terms than private alternative loans.
- A PLUS loan may be available to your parents which also have better repayment terms and often lower interest rates.
If you would still like to apply for a private education loan at this time, please visit one or both of the following sites for a list of alternative lenders:
Note: If you are not enrolled for at least six credit hours, be sure to choose a lender that does not require you to be enrolled at least half-time.