Private Student Loans – 4 Lenders & Their Benefits

If you happen to be looking for private student loans that you can use for your college tuition, there are many programs out there, some great, some not so great. In order for you to get the best program, you have to know where to look, and that’s where we come in. You will be provided with 4 of some of the best private student loans providers around so that you can get the money you need to complete college as well as do it with a program that has excellent benefits. Just to top it off, you will also get a list of the benefits that come with taking out private student loans.

Private Student Loans – 4 Lenders

  1. Sallie Mae Private Student Loans – They have what is called the Smart Option Student Loan that provides many benefits like; no activation fees, no prepayment penaltiles, an interest repayment option allowing your to pay your interest while you are in school which will save you up to 5000 dollars, rewards for paying your bills on time like percentages off your loan, allows you to borrow up to the cost of your tuition, and up to 5000 dollars in covered fees that you can use for medical fees. The interest rates on this loan are anywhere from 2.0 to 9.88 percent. They have private student loans for many types of students including undergraduate, graduate and professional.
  2. Chase Bank Private Student Loans – This option also provides undergrads, graduates and professional students the opportunity to obtain private student loans and offers many advantages to their eligible applicants. Some of those benefits being; no payments while you are in school, no activation and repayment fees, and allows you to get funding for many facets of your shcooling like, tution, books, cost of living and buying a computer. This program offers a 25 year repayment option.
  3. Wachovia/Wells Fargo Private Student Loans – This option has been the lending hand to millions of students and has benefits like; discounts up to 1 percent, interest rates as low as 3.4 percent which there are both fixed and variable loans, you can borrow up to 25,000 dollars per school year, and don’t have to pay a dime until after your college is over.
  4. Access Group Private Student Loans – This option will allow you to to get many of the benefits of the other lenders above and allows you to either apply with or without a co signer, and has a 25 year repayment program.

These are 4 of some of the greatest programs to go through to get private student loans. Although federal student loans should be the first way to go, private student loans provide the money you need when the federal method isn’t providing you enough money to cover school costs.

  1. Like it was said above, private student loans provide you with the money that other financial aid isn’t covering.
  2. There are no deadlines when it comes to applying unlike most all federal student loans.
  3. Private student loans are not based on needs meaning if you have good enough credit or can provide someone with good enough credit, you will be given financial aid.
  4. The give you the freedom to pay for many things other than just tuition when it comes to your life at school.
  5. They have discounts that students can receive one their loans by doing things like, on time payments and getting your monthly payment withdrawn automatically, unlike federal student loans where discounts are found as often or at all.