After determining whether you qualify for government-sponsored student loans that generally offer more favorable terms, you may want to consider credit-based loans to help pay direct and indirect college expenses.
You and your family must apply for credit-based loans directly with lenders. Calculated financial eligibility is not required for approval, but applicants must meet credit and other eligibility requirements set by individual lenders. You may choose to borrow from any lender without penalty.
Before taking out any credit-based loan, we urge you and your family to compare information and terms carefully.
Guidance on Private Loans
There are several Web sites providing lists of different private loan options that can be a helpful first step in considering whether to obtain a private educational loan. An example of these Web sites is provided below. Students are encouraged to visit actual lender websites in order to find the rates, terms, and services that are right for them.
You must complete this form and submit it to the lender before your application for a private educational loan can be processed.
Have You Considered Federal Financial Aid?
Students considering private loans should realize that they may qualify for loans or other assistance under Title IV (Federal financial aid). The terms and conditions of these loans may be more favorable than the provisions of private education loans. For more information on Federal financial aid programs, please visit http://studentaid.ed.gov.
At Standard College, we are committed to providing students the best customer service and information regardless of how they finance their education. However, Standard College is not a lender and is not providing legal, accounting, or financial planning services. Any agreements entered into with lenders exist solely between the lender and the student, and the College recommends that students consult with their own advisors before making educational financing decisions.
Learn more Federal Financial Aid