Private Student Loan Consolidation

PRIVATE STUDENT LOANS
These are loans that are made to the students by private finance companies or bank and not guaranteed by a government agency. The companies that offer private student loans suggest that they combine the best elements of government or federal loans into one. These loans offer higher loan limits than federal loans, ensuring the student has no budget gap and offer no payment due until after graduation. The grace period is between 6-12 months.
Start your Private Student Loan Consolidation application.

Private Student Loans

Private student loans generally come in two types: school-channel and direct-to-consumer.

School-channel loans offer borrowers lower interest rates but generally take longer to process. School-channel loans are 'certified' by the school, which means the school signs off on the borrowing amount, and the funds for school-channel loans are disbursed directly to the school.

Direct-to-consumer private loans are not certified by the school; schools don't interact with a direct-to-consumer private loan at all. The student simply supplies enrollment verification to the lender, and the loan proceeds are disbursed directly to the student. These loans carry higher interest rates but the processing is faster thus get faster access to the funds.

Private student loan rates and interest

Private student loan rates are lower than non-specialized private loans (e.g., "signature" loans) but slightly higher than government loan rates. The rate is based on one or more financial indexes, such as Wall Street Journal Prime Rate or the BBA LABOR rate. Private loan consolidation rates & overhead charges also vary with the credit history of the borrower. The private loans may also contain some origination fees.

Start your Private Student Loan Consolidation today, Fill out simple Student Loan Application Form.