Learn more about College Loan, it's easier and faster than you think and helping many students to complete their study. It's a private loan that not backed by the Federal Government. The advantage of taking this loan is application process simple, easy to get approve, less paper works. The disadvantage is you probably have to get a co-borrower to sign the loan with you.
Some student prefer to take the Federal Student Loans, but the loan have a limit which tied to the year amount. Below are some facts of the federal loans :-
1) Loan amounting to $5,500 for Freshman.
2) Loan amounting to $6,500 for Sophomore.
3) Loan amounting to $7,500 for Junior, Senior and 5th year undergraduate students.
After received scholarship, grant, Federal Loan, it might not enough for other uses. Thus, this loan covered for buying computer, study materials and other basic living costs.
Facts of College Student Loan
1) Eligible to borrow up to full cost of education, deduct any financial aids that you have.
2) Repayment after six months for graduation. But student is allow to start their repayment during the six months grace period. This will cut-down the principal amount and shorten the term significantly.
3) Have generous repayment term, there are various repayment schemes & plans available for borrowers. You are permitted to select the most appropriate repayment plan that suit to your situation.
In the market, there are thousands of loan lenders compete their rates and terms. Therefore, do not rush take your time to choose the best loan lender. Prepare a comprehensive comparison table, gather all those data from them, this will enable you to compare them at clearer sight.
For more loans information for student, please check out
Student Loans instead of College Loan
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