Educational Loans for Students
If you have the desire, we’ll help you find the means.
School is expensive, but you’re paying for more than books and
tuition. You’re paying into your future. College graduates earn
about 80 percent more than non-college graduates in their lifetimes,
more than a million dollars on average. They have more freedom to
choose their lifestyle, and more opportunities in the job market.
But college costs real money and tuition keeps rising. Our loans
make it possible for you to earn your degree without breaking the
bank.
The bottom line:
There are two types of loan packages—Government sponsored and
non-government sponsored. The most popular loan package of the
government sponsored programs is offered through the Federal
Family Education Loan Program (FFELP). These loans are generally
awarded by a private company like StuFund and are based on
family income and student need. Because the FFELP loans are
subsidized by the government they have very attractive terms and
low interest rates. To apply you and your child must complete
the Free Application for Federal Student Aid (FAFSA) form and
supply detailed information about your family’s financial
situation. This information is forwarded to your child’s school
and is used to determine eligibility for government sponsored
loans as well as other need-based financial aid such as
grants, scholarships and work study programs.
Features of the Government Sponsored Loans:
- Need based loans used for tuition, fees, books,
and certain living expenses
- Subsidized interest rate and fees
- Maximum loan amounts usually below total education
costs
- Must complete the FAFSA form to apply for federal
loans as well as need-based grants, scholarships, and work-study
programs.
- Strict application deadlines
For many students, however, government sponsored
loans won’t cover the total cost of education. The difference can
generally be made up by non-government loans provided by private
lenders like StuFund. The interest rates on non-government loans are
competitive and the repayment terms are flexible. If you have good
credit, you’ll be able to secure a lower interest rate and lower
monthly payments for your child as a co-signer on the loan. Your
child can request as much as he or she will need, get instant
pre-approval on-line or over the phone. There are no application
deadlines for you to meet and you can even apply mid-semester if
funds are needed. The FAFSA form is not required to apply for
non-government loans, but we encourage families to apply for the
government sponsored loans first because of their lower cost.
Features of the Non-government Sponsored Loans:
- Loans approved based on credit, not need
- Loan proceeds can be used for all educational
expenses, including discretionary living expenses
- No application deadlines
- Flexible repayment options
- Competitive interest rates and terms
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