Benefits of Private Student Loans

Private student loans are a great avenue to pursue when all other financial aid sources have come up short. On this page, we'll explain how private student loans work and what their benefits are.

About Private Student Loans

Private student loans are meant to supplement the money you get from federal financial aid and other sources. Sometimes the money you get from these other sources is insufficient to cover your expenses, and you need to pursue an alternative. But you need to reduce student loans whenever you can. Private student loans are unsecured loans that are issued based on your credit. For undergraduates and graduate students, you can borrow up to the full cost of your expenses (minus financial aid received) or $40,000 (whichever is less) annually.

Private Student Loans Offer Flexibility

Unlike federal financial aid where you are racing against the clock to get your application in on time, you can get private student loans at any time. That means you can borrow in the middle of the semester, at the end of the school year, or at the beginning...any time you need extra educational funds. We also give you more flexibility by allowing you to complete our application process online, with preliminary approval in as little as fifteen minutes. Though some applicants might need a cosigner, it is possible to qualify without one.

Benefits of Our Private Student Loans

Applying for a private student loan with us is a smart decision, and we'll tell you why. The benefits you can get from private student loans are better than any other source of financial aid. Here are a few of the perks you'll enjoy:

• Generous limits on borrowing
• Easy online application
• Free application
• If you stay in school at least half-time, then you will enjoy deferred interest and principal until graduation on most loans
• Option of applying with or without a cosigner
• Initial approval usually takes less than 15 minutes
• Repayment options for undergrads that will save you money
• No deadlines on application.apply whenever
• You might be able to deduct private student loan interest (check with your accountant)
• Money will be sent directly to you