(see Alternative Loans) Promissory Note ^Submenu The promissory note is a legal binding contract between the borrower and the lender. The promissory note states the terms and conditions of the loan, including repayment schedule, interest rate, deferment policy, and cancellations. The borrower should keep this document until the loan has been repaid.
Loans that are not sponsored by the federal government. Private loans, funded by private companies, are not subject to the same restrictions as federal loans. Astrive student loans are private loans.
Private loans, also known as alternative loans or Non-Federal student loans, help bridge the gap between the actual cost of education and the limited amount the federal government allows students and parents to borrow under the federal FFELP and direct loan programs. Private lenders offer private loans and there are no federal forms to complete.
Private loans provide funding when other financial aid does not cover costs. These loans are offered by banks or other financial institutions and schools to parents and students.
Private loans provide supplemental funding when other financial aid does not cover costs. These loans are not federally insured, but are offered by banks or other financial institutions to students and parents.
An alternative to the PLUS Loan if additional loans are needed. They are a non-need based private student loans made through a bank. Their features are very similar to the Unsubsidized Stafford Loan. Payments start six months after the last date of enrollment and interest accrues while in school. There can be a loan fee and they normally require a cosigner. If you choose a private loan we recommend that you apply to Sallie Mae and Wells Fargo to see which bank gives you the best terms. You can apply for a Sallie Mae Signature loan online at http://www.salliemae.com/signature/index.html or call 1-800-695-3317. You can apply for the Wells Fargo Collegiate loan at https://www.wellsfargo.com/wf/student/loans/undergrad/collegiate or call 1-800-658-3567. See comparison chart between Wells Fargo Collegiate® Loan and Sallie Mae Signature Student Loan here.
Private Loans, also known as Alternative Loans, help cover the additional costs of education above the limited amount the government allows to be borrowed under the FFELP and Direct Loan Programs. These loans are offered directly through banks and CANNOT be part of a Consolidation Loan.
Education loans made by private lenders to supplement federal loans and other financial aid received by students.
Loans that are not sponsored by the federal government. Private loans are not subject to the same restrictions as federal loans. Private loans are funded by private companies. The START Education Loan is a private loan.
Non-government sponsored loans that are offered by banks or other financial institutions and schools to parents and students. These loans can cover the full cost of education or provide supplemental funding when other financial aid does not cover costs. Also known as Alternative Loans.
Private loans are education loan programs established by private lenders to supplement the student and parent education loan programs available from federal and state governments.
Private Loans offered by financial institutions and brokers can be in the student's name and/or in the parents' names depending on the individual loan. These loans are not need-based or merit-based loans. The interest rates on these loans are usually variable with no cap on the rate. The rates are based on Prime or LIBOR Index plus a percentage and may be adjusted quarterly. Loans in the student's name start repayment after the student leaves school while loans in the parent's name usually have repayment terms that start soon after the loan has been made. Loan amounts can be up to the total cost of college less any financial aid.
Conventional loans made from financial institutions.
Private loans provide supplemental funding when other financial aid does not cover costs. Banks or other financial institutions and schools offer these loans (not sponsored by government agencies) to parents and students.
Education loan programs established by private lenders to supplement the student and parent education loan programs available from federal and state governments. These are generally not as good as the federal loan programs, and the student must "shop around" and apply through the bank for loans with terms that best suit them.
These loans (non-government) are offered by banks or other financial institutions and schools to parents and students.
