STUDENT LOAN

Loans and Repayments

Student loans are part of the government's financial support package for students embarking on a course of higher education.

They are available to help students meet their living costs while studying.

Applying for a Loan

Your local award authority handles the first stage of your loan application. Regardless of where you are studying, if you are from England and Wales you will apply to your Local Education Authority. If you are from Scotland you will apply to the Student Awards Agency for Scotland and if you are from Northern Ireland your loan application should be made to your Education and Library Board.

Government loans and private loans

There are two basic categories of loans available: government loans and private loans. In general, the government loans for students (also called Stafford Loans) should be your first stop. Parents should consider government loans for parents (also called PLUS Loans). Occasionally, private loans can be competitive with the government programs.
Ask your financial aid administrator if your school is a "Direct Lending" school -- If so, you can get government loans directly without a third party lender.

Private or "alternative" loans require NO GOVERNMENT FORMS and can be a great solution if after receiving your government loans and grants, you still find a gap between your available funds and your costs.

Once you've finished going to school, consolidation loans can help lower your payment amount and combine multiple payments into one, easy to make payment.
PRIVATE LOAN

Private loans are primarily designed to fill the gap between what you have in the form of scholarships, grants, federal loans and any other contributions you are making to pay for education and what you still need to cover the full cost.

Private loans can be used to cover all education and education related expenses. That includes tuition, room and board, books, transportation, housing, and supplies.

Main Features:

• High approval rates.
• Competitive interest rates.
• No origination fees for qualified borrowers.
• Instant credit decisions.
• Dedicated customer service representatives who handle all issues related to an application.
• Flexible repayment options.
• Repayment incentives.

student loan