WHAT IS A PRIVATE STUDENT LOAN?
Private student loans are credit-based loans that are created and offered by private lenders.
YOU MAY CONSIDER A PRIVATE STUDENT LOAN IF:
- You need additional funds for living expenses.
- You may not qualify for federal aid to cover your costs.
PRIVATE LOANS DIFFER FROM FEDERAL LOANS:
- They often have larger borrowing limits.
- Enrollment requirements are less restrictive.
- Repayment terms are more generous.
- Many require a cosigner to apply with you.
Contact your Financial Aid Counselor for assistance.