Private Student Loans

Another factor that affects the amount of your loan is the federal cap on your annual and total borrowing. To qualify for a Citizens Bank Student Loan, you need to: See how parents feel about paying for college. You may also be interested in: As always, you may opt for a private loanbut do remember that private lenders will want to make a profit on lending to you. In recent years, loan repayment programs for medical students have gained popularity.

Why Discover Student Loans?

Applying online is easy

K education loans from Sallie Mae help finance your child's K private school education-related expenses. Apply for a K private school loan. Loans. An education loan is a form of financial aid that must be repaid, with interest. Education loans come in three major categories: student loans (e.g., Stafford and Perkins loans), parent loans (e.g., PLUS loans) and private student loans (also called alternative student loans). A fourth type of education loan, the consolidation loan, allows the borrower to lump all of their loans . Apply for a student loan for your graduate medical school costs. Go through federal or private lenders.

How to look for private student loans

Not all student loans are created equal

But so long as federal loan limits do not increase every year, private student loan volume will continue to grow at double-digit rates. If current trends continue, annual private education loan volume will surpass federal student loan volume by around Accordingly, it is important that students have tools they can use to compare different private student loans. Advertisement Best Private Student Loans As a general rule, students should only consider obtaining a private education loan if they have maxed out the Federal Stafford Loan.

The fees charged by some lenders can significantly increase the cost of the loan. A loan with a relatively low interest rate but high fees can ultimately cost more than a loan with a somewhat higher interest rate and no fees.

The lenders that do not charge fees often roll the difference into the interest rate. Be wary of comparing loans with different repayment terms according to APR, as a longer loan term reduces the APR despite increasing the total amount of interest paid. FinAid's Loan Analyzer Calculator may be used to generate an apples-to-apples comparison of different loan programs.

Unfortunately, these rates often will be available only to borrowers with great credit who also have a creditworthy cosigner. It is not uncommon for lenders to advertise a lower rate for the in-school and grace period, with a higher rate in effect when the loan enters repayment.

Federal student loans are not available for expenses incurred by law, medical and dental students after they graduate, such as expenses associated with study for the bar or finding a residency. There are two types of private student loans for these expenses: A Bar Study Loan helps finance bar exam costs such as bar review course fees, bar exam fees, as well as living expenses while you are studying for the bar.

A Residency and Relocation Loan helps medical and dental students with the expenses associated with finding a residency, including interview travel expenses and relocation costs, as well as board exam expenses. Comparing Private Student Loans Key information to understand student loans includes being aware of the annual and cumulative loan limits, interest rates, fees, and loan term for the most popular private student loan programs.

Often the interest rates, fees and loan limits depend on the credit history of the borrower and co-signer, if any, and on loan options chosen by the borrower such as in-school deferment and repayment schedule. Loan term often depends on the total amount of debt. Most lenders that require school certification approval will cap the annual loan amount at cost of education less aid received COA-Aid.

They may also have an annual dollar limit as well. Lenders rarely give complete details of the terms of the private student loan until after the student submits an application, in part because this helps prevent comparisons based on cost. For example, many lenders will only advertise the lowest interest rate they charge for good credit borrowers.

The APRs for variable rate loans, if listed, are only the current APRs and are likely to change over the term of the loan. Borrowers should be careful about comparing loans based on the APR, as the APR may be calculated under different assumptions, such as a different number of years in repayment. All else being equal, a longer repayment term will have a lower APR even though the borrower will pay more in interest.

The information presented below is based on lender provided information. Actual rates and fees may differ. Featured Student Loan Providers. Choose between our student or parent loan options with competitive interest rates and flexible payment terms. Similar to the "Common App," users and co-signers complete a single, brief form and receive personalized offers from multiple lenders.

The process is free and does not impact a user's credit score to compare offers. Access special discounts from some lenders. No fees 5, 8, 10, 12, 15 and 20 year terms available Student Loan Providers.

Student loans should expand your possibilities, not limit them. The Ascent Tuition cosigned loan is designed with you in mind: Choose from affordable fixed or variable rates. Citizens One Citizens One, the national lending division of Citizens Bank, offers loan options for undergrad, grad students and parents with competitive rates, flexible terms and interest rate discounts.

Our loans are designed to give you great rates plus the most repayment options so you can create a loan that fits your monthly budget while paying as little interest as possible. Our simple application process takes just 3 minutes to complete and get an instant credit decision. Not sure which repayment plan is right for you? Our student loan calculator and free credit pre-qualification tool can help. For footnotes, please refer to the links for product specifics undergraduate, graduate or parent.

Help cover tuition and other education costs for students in associates and bachelors degree programs. Choose between 5, 8, 10 or 15 year options. Choose to repay the way that works for you: Choose how quickly to pay back the loan: Choose to pay back the loan in as little as 5 years or take up to 12 years or pick something in between.

The lender has loan options for undergrads, grads, and parents with flexible features such as multiple repayment options and competitive fixed and variable interest rates the borrower may choose. There are no origination or prepayment fees. Students who are enrolled full time, half time, and less than half time are eligible. Interest rate reduction available for auto debit payments.

Lower rates available to graduate students Variable Rates: LendKey matches consumers with lenders to create the most transparent, accessible and low-cost borrowing options in online lending. LendKey works with over community based and not-for-profit lending partners to get you the best possible rates and benefits for your education loans. The application process can be completed in minutes and our customer care team will be with you every step of the way if you have questions.

Since LendKey services all loans booked on its platform, students know they're always able to speak to a real person about their loans. Private student loans at LendKey can be used for undergraduate and graduate students.

Our student loans for graduate school A graduate degree can set you apart in the job market and get you closer to the career you want. Take a look at our competitive interest rates and flexible repayment options below, and apply for a grad school loan today. Find the medical or dental school loan with repayment options designed with your education in mind Choosing to enroll in medical and dental is a major step that involves a lot of important decisions, including how to finance your education.

Our medical school and dental school loans offer four-year residency deferment options that let you start establishing your specialty before repayment is required. Citizens Bank is the only lender to offer multi-year approval for private student loans, because we are committed to staying with you all the way through graduation.

If approved you will be notified after you have submitted your application. Already have a multi-year approval loan and need additional funds for the upcoming semester? Log in here to request more funds. Already have an application? Expert grade-specific advice for funding college, including scholarship and college search tools.

Both federal and private student loans are eligible for refinancing. Personalize your experience by providing your ZIP Code. To learn more, please visit:. Multi-Year Approval for Graduate Student Loans Citizens Bank is the only lender to offer multi-year approval, because we are committed to staying with you all the way through graduation.

Immediate Repayment Immediate Repayment Make principal and interest payments while enrolled in school, beginning about 30 days after funds are disbursed. See our Citizens Bank Student Loan page for important disclosure information.

Graduate Student Loans Graduate Student Loans Our student loans for graduate school A graduate degree can set you apart in the job market and get you closer to the career you want. Medical and Dental Student Loans Medical and Dental Student Loans Find the medical or dental school loan with repayment options designed with your education in mind Choosing to enroll in medical and dental is a major step that involves a lot of important decisions, including how to finance your education.

No application, origination, or disbursement fees.