12.16.09 | Spring Into Action With Private Student Loans
For college students and their families December can an extremely stressful month. December is one of the two times per year when tuition bills are expected to be paid in full to colleges and universities across the country. You probably received your financial aid package for 2009-2010 almost an entire year ago. Everyone knows that financial circumstances can change drastically in one year especially in a recovering economy. Perhaps the money that you and your parents thought you would have for this coming semester suddenly needs to be allocated elsewhere.
Winter break is a great time to re-evaluate your finances for the spring semester. Maybe you will find that you are in need of a couple hundred dollars for expensive biology books. Or, maybe your parents have realized that they cannot pay for campus housing this semester and you find yourself in need of a couple thousand dollars for that. Either way, unexpected expenses can creep up on you quickly. If you have never considered applying for a private student loan now might be the perfect time to do so.
A private student loan allows you to borrow up to the true cost of your education. Private student loan funds can be used for expenses beyond tuition including biology books and on-campus housing. You can also use private student loans for transportation, lab supplies and student fees.
Don’t think you will be eligible for a private student loan? You are probably wrong! There are really only a few requirements. First, you need attend an eligible community college, traditional two or four-year college, or eligible graduate program at least half time. Second, you and your cosigner must be US citizens or permanent US residents. Finally, and most importantly, you and your cosigner will need to pass a credit check. Unlike federal student loans, private student loans are based on your credit score. As long as you or your cosigner have good credit you should have no problem being approved.
If you were already planning on applying for a private student loan, winter break is also a good time to talk to your parents about cosigning for you. Applying for a private student loan with a cosigner increases your chances of being approved and even lowers the interest rate that you receive.
If your federal financial aid package is not going to cut it in the spring of 2010 or scholarship funds that you were counting on have fallen through a private student loans could be the perfect solution. PrivateStudentLoans.com can connect you to the best lenders and even help you out with the quick and easy application process. Spring into action and apply today so you receive the funds in time for your semiannual trip to the campus bookstore!
ScholarshipPoints Bonus Code: SPRING2010
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I think loans are kind of dangerous and can take several years to pay off. Great info thought.
February 1st, 2010 | #
I hope to benefit frm this
January 29th, 2010 | #
Great Private loan product.. great rates and easy process…accepted at most schools..
January 20th, 2010 | #
In the first comment Ashley talked about “free money”. Private student loans are not free money. The interest rates on these types of loans will certainly be higher than a federal student loan, even if you have a good credit score and a cosigner. Be careful how much debt you end up with after finishing school. Don’t borrow more than what you can expect to earn in one year on the job. If you exceed that you have borrowed too much and can find yourself in serious financial trouble. Remember, neither federal nor private student loans can be dismissed in a bankruptcy proceeding.
January 19th, 2010 | #
This offers a better understanding and help as to what I will need
January 19th, 2010 | #
free money sounds great especially due to our poor economy and other serious situations in which money was spent that was suppose to be for my college education.
January 18th, 2010 | #
Good information.
January 15th, 2010 | #
this is would be a great help
January 15th, 2010 | #
School is very expensive but in the long run i will beable to pay for it once i’m Graduated as a RN. But yes this is very stressful. Thanks for the tips very helpful!!
January 14th, 2010 | #
Im worried that im am going to be in debt but i already have one anyway
January 14th, 2010 | #
I’ve heard a lot of things about scholarships and grants, but loans are kin do the one that we hear little about before college. And I for one am thankful to informed someplace. So thank you! A private loan really is going to be helpful in the paying of my education.
January 14th, 2010 | #
wow pretty helpfull
January 13th, 2010 | #
this was very helpful and this would defenitly help in the future
January 13th, 2010 | #
it is a stressful time, we are going to need it a lot.
January 13th, 2010 | #
this is a lot of help
January 10th, 2010 | #
Its a stressful time
January 10th, 2010 | #
This Is Very Helpful To Me Around This Time
January 8th, 2010 | #
The information given on aid is very helpful. I want to start my own business after college and don’t want to have so much debt from school that it hinders my future plans.
January 8th, 2010 | #
This is really good and will help out a lot.
January 7th, 2010 | #
this is a great idea!!!
January 7th, 2010 | #
It is very stressful and this seems like it could help
January 7th, 2010 | #
I appreciate all of these offers. They’re a good idea.
January 7th, 2010 | #
very helpful
January 7th, 2010 | #
This is a very good way to help us.
January 7th, 2010 | #
I’d love to be able to relieve some of the stress from my parents.
January 7th, 2010 | #
I really want to qualify for a private loan so I can make next semester easier for my family and I.
January 6th, 2010 | #
I’ve always been afraid of loans…debt is not cool for me.
January 6th, 2010 | #
this is an extremely stessful time for a lot of people and hopefully this can help us all out
January 6th, 2010 | #
This information really does help me since I used to know nothinh about student loans or private loans. Thanks!
January 5th, 2010 | #
I’ve been considering a private student loan. I’m waiting for my FAFSA to come in so I can see how much the state is offering to help pay for college. I’ll probably also recieve grants from my college, but there will still be a gap. A private student loan will cover it.
January 5th, 2010 | #
2010/2011 will be a better year, by faith. I believe I can complete my education without a lot of loans.
January 5th, 2010 | #
My son and I are both enrolled in college and without financial aid, it was impossible. I had a private loan for his first year in school, it became due the second year and I got a deferrment because I was enrolled in school. It was extremely helpful because he needed a lot of things for school, and for an apartment.
January 5th, 2010 | #
Helpful!
January 5th, 2010 | #
This will help.. and i agree
January 5th, 2010 | #
this was very helpful
thank u
January 4th, 2010 | #
I could not get a private loan,I apply for one, so I am just out to win scholarship, that the best way to go you don’t have to pay scholarship back
January 4th, 2010 | #
I did know about this information. Very helpful. I will be doing some research about a personal loan but I dont want to get into too much debt
January 4th, 2010 | #
dont need any loans thanks
January 4th, 2010 | #
This is very helpful. I will also need additional funding after the scholarships and grants.
January 4th, 2010 | #
due to our economic situation this is very helpful to the families in need of help
January 4th, 2010 | #
excellant
January 4th, 2010 | #
Agree! Private student loans are so beneficial.
January 4th, 2010 | #
Do u need perfect credit for this? If so…why not go to a bank of your choice?
January 4th, 2010 | #
Ew not a fan of the Private student loans.. it just screams debt!
January 4th, 2010 | #
As long as the private loans allow you to defer them until after college graduation….having good credit it easy, it’s having the extra money every month to pay the loan while in college.
January 4th, 2010 | #
I already have 3 private school loans…don’t need anymore.
January 4th, 2010 | #
this would help a lot
January 4th, 2010 | #
i agree with michelle loans are good but then there could be debt along the way i know teachers that are still paying off their student loans:/
January 4th, 2010 | #
agreed!
January 4th, 2010 | #
Finding funds is extremely stressful. It is so hard to find financial if you do not qualify for federal aid. Things just become a big stressful mess.
January 3rd, 2010 | #
very informative. thank you
January 3rd, 2010 | #
useful info.
January 3rd, 2010 | #
i really should start thinking about this right now…
January 3rd, 2010 | #
good information. very helpful
January 3rd, 2010 | #
I used private student loans to attend college. Then when my job reimbursed me, that money was used to pay off any outstanding school bills plus for future classes.
January 2nd, 2010 | #
Loans are very helpful. However, I wouldn’t take out too many because you may go into debt trying to pay them back. You will spend the rest of your life working to pay off your loans than enjoying it.
January 2nd, 2010 | #
it’s a good idea
January 2nd, 2010 | #
also most lenders will not make u start paying on your loan until about 6months after they have graduated/not enrolled
January 1st, 2010 | #
debt is something you really have to worry about because it could really mess your credit up
January 1st, 2010 | #
free money would be awesome.
December 31st, 2009 | #
free money for school would be awesome.
December 31st, 2009 | #
thats whats up thanks
December 31st, 2009 | #
Yes student loans can be helpful, but I just worry about being in debt
December 30th, 2009 | #
finding funding is extremely stressfull.
December 30th, 2009 | #
this helps thanx
December 30th, 2009 | #
this helps. thanx
December 30th, 2009 | #
ugh.. it is a very stressful time .. but this makes me feel a teensy bit better
December 30th, 2009 | #
there are so many scholarships out there that people never hear about..
December 30th, 2009 | #
yes i understand it is a very stressful time and this is very helpful
December 29th, 2009 | #
Loans always need to be paid back and you could have less money when their due then you do now…
December 29th, 2009 | #
This has been very stressful finding funding for school and living expenses
December 29th, 2009 | #
Very interesting! Hopefully the debt won’t be too much when i get outta college
December 29th, 2009 | #
Will not help someone with bad credit
December 29th, 2009 | #
the credit score can really keep you down
December 29th, 2009 | #
interesting how the expensive biology keeps coming up. i’m glad i’m done with that class.
December 29th, 2009 | #
Bonus code??
December 28th, 2009 | #
i never knew about these ! They would really help
December 28th, 2009 | #
loans seem so heavy an your shoulders
December 28th, 2009 | #
that’s true. very helpful.
December 28th, 2009 | #
this would be so helpful! What a great idea
December 28th, 2009 | #
This may be a good way to go because my fasa doesn’t cover my entire school cost
December 27th, 2009 | #
Ouch
December 25th, 2009 | #
i think this is very good way to help us pay for college
December 25th, 2009 | #
i agree, preparing for college is very stressful whether its making sure the application is due or paying for college tuition’s using financial aid, scholarships or student loans.
December 22nd, 2009 | #
This is a good idea
December 22nd, 2009 | #
its defiantly a good idea
December 22nd, 2009 | #
This would really come in handy.
December 21st, 2009 | #
It is getting pretty hectic now and this would help me a lot
December 21st, 2009 | #
I have to find the money somewhere. I am willing to get loans from wherever necessary to help me complete my college education.
December 20th, 2009 | #
it would be a big help!
December 20th, 2009 | #
yeah thats something im doing now.i dont want to impose on my family anymore, paying for college made last christmas not so christmas like.
December 20th, 2009 | #
This would make things a lot easier and less stressful
December 20th, 2009 | #
I GOT A STUDENT LOAN FROM A BANK. NOBODY WOULD LET ME HAVE ONE BUT THEN IT WAS A GREAT HELP A LOTS OF STRESS WAS TAKING OF ME WHEN I GOT IT.
December 19th, 2009 | #
yes… i’m at this state right now =(
December 19th, 2009 | #
this article is very very beneficial to me !! =)
December 19th, 2009 | #
What is the intrest?
December 19th, 2009 | #
this would definitely help
December 18th, 2009 | #
At first, I didn’t want anything to do with loans during college but it seems that they may be necessary in certain situations. And like the article said, it is really difficult during December and financial situations do change. So, thank you for this information.
December 18th, 2009 | #
is a good idea
December 17th, 2009 | #
i think is a good idea
December 17th, 2009 | #
me parece bien!
December 17th, 2009 | #
this would be very helpful right now
December 17th, 2009 | #
it wuold help out alot
December 17th, 2009 | #
I agree it’s stressful and prayfully i will get the help i need
December 17th, 2009 | #
it is a stressful time and this would help
December 16th, 2009 | #