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Private Student Loan
Programs for July 2008 :
Chase Private Student Loans
- Need
money for school expenses not covered by federal loans
or other aid? You could get a private student loan from
$1,000 to $40,000 per academic year for such items as
• Tuition
• Room and Board
• Computer
• Other school
related expenses
As you determine the best
way to finance your education, you should consider the
full range of student financial aid options available.
Private loans, like the
Chase Private Student Loan, can be used when federal
loans, grants and other forms of financial aid are not
sufficient to cover the full cost of education.
Astrive Student Loans - Borrow the Money You Need
for Your Tuition, Room/Board & Much More.
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If you have graduated once or
are you will within 6 months, consider federal loan
consolidation to lower payments. |
STUDENT CONSOLIDATION LOANS Consolidate to as low
as 6%. Fill out one secure, no obligation form. Have the
banks and
consolidation loan companies compete for
you.
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Why do students borrow private student loans?
Many
students turn to alternative
student loans to fill the
gap between what they have been awarded in their Federal
Financial Aid Award Letter and what they really need.
Alternative loans supplement the student and parent
education loan programs available from federal and state
government approved lenders.
Compare the terms with those of other loan lenders
when
applying.
Alternative loans are awarded on financial
qualifications, such as your credit rating.
Students looking for college funds often ask the following questions:
What are the requirements
for a private loan?
Applicant
must be a student enrolled at least half time in an
eligible institution. Most freshmen must include a
creditworthy co-applicant. Either the student or the
co-applicant must be a citizen of the United States or an eligible
permanent resident.
How much may I borrow?
Up to $40,000 per year if you apply with one of the student lenders
listed on this site. Most private student loans have $ 40K annual limits.
What is the current interest
rate?
Interest rates vary by company, though they are all
competitively low. Read the loan repayment terms
carefully.
Financial food for thought: Avoid borrowing too much.
First, how much money do
you expect to be making when you graduate and get a job?
Remember, you will need to get some kind of job, because
those loan repayment bills will start showing up in the
mail six months after you are out of school. If you are
fairly confident that you will be able to find a job in
your field of study soon after graduating, look at what
entry level income is for this field. After you find
this out, you can then calculate how much your monthly
loan repayment will be. Actually, most student loan
programs do this for you. Then you simply determine if
your expected budget will be able to handle those
monthly loan payments. If it looks close, you probably
shouldn’t take out the loan, because there are always
unexpected expenses that are not factored into a budget.
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