School Loans

There are numerous types of loans for school, ranging from Federal to Private to Loans offered by your local credit union. The most common type of school loan is the Federal Stafford loan. Detailed information about this loan can be found on the U.S. Department of Education's website ED.gov.

With the Stafford loan's low limits,
many students and parents are turning to alternative financing such as private student loans. Private student loan limits are higher, as you can borrow up to $40,000 a year. These loans cover everyday college expenses such as room and board, a new computer, study abroad and most all other school related expenses.

iStudentLoan - private student loan offers up to $40,000 per academic year. Begin repayment after graduating.

A credit-worthy cosigner can boost your chances of acceptance and lower fees and

rates as well. There are lots of other advantages to having a cosigner as well, so you should check with a financial aid advisor to see the different ways a cosigner can benefit your private student loan application.

We're proud to feature iStudentLoan as one of our private student loan sponsors.

Other Advantages to the Private Student Loan

The applications are generally much easier than the federal loan applications, and you can apply for them any time. You can also get approval in minutes as opposed to months if you can’t wait for the federal aid to come through, and you can have your money in a week. The rates are very competitive, and many times there are no fees associated
with this loan.

You can also borrow much higher limits than you can with the other federal loan programs, and in most cases you can get up to $40,000 in maximum loans annually (depending on the school and program) with a total maximum of $130,000. There are also rate reductions for automatic payments and on-time payments.

The private loans also have more flexible terms for repayment, and are often deferrable until six months after you leave school like the Stafford Loan. Visit: Private Student Loans @ iStudentLoan.