Private student loans are offered by banks, credit unions and online lenders for borrowers to attend college or trade school.
See some common questions and answers below
Private student loans are loans designated to help students attend college or vo-tech schools. Federal student loans are offered by the federal government. Private student loans require a credit check, are more expensive than federal student loans, and generally do not have flexible repayment options.
Private student loans can help people who are not eligible for federal student loans or who need extra money to attend college or trade schools.
If you have maxed out your federal subsidized and unsubsidized loans, consider private student loans. As stated above, they are less advantageous than federal student loans, but can help you finish your educational goals.
The cost of private student loans depends on the amount borrowed, the repayment terms, and your credit history.
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