Student Loans best fit for you – compare offers for free
Whether you’ve just graduated high school and are working toward your Bachelor’s degree or you’re pursuing higher education, such as a Master’s degree, after being in the workforce for decades, our partners can help you find the right loan – at the right price – for your desired degree.VIEW LOAN OPTIONS
How do student loans work?
If you have been asking yourself this question, you are not alone. In fact, many students who take out student loans don’t fully understand what loans are, how student loans work specifically, what types exist, and so on. Not to fear, we can help!
Let’s start with defining a loan. A loan is an agreement between a borrower and a lender. A lender gives money to a borrower, and in exchange, the borrower agrees to pay back the lender over a certain period of time plus interest. Student loans are a type of loans that are intended to be used for a borrower’s education.
It’s important to note that a student loan is a financial transaction, one that comes with a binding agreement between you and your lender. If you take out loans for your education, it’s wise to only take out the amount you need and no more, as you will be expected to repay this amount in addition to interest down the road. Also, remember to do your research to find out how the interest on your loans accrues and what types of repayment opportunities will be available to you upon graduation.
Choose the type of student loan that’s right for you
Private loans often may be used to cover the difference between the total cost of education and the amount offered through the federal loan program. This may include the cost of housing, books, fees, and other educational expenses, in addition to the cost of tuition. Before making a decision whether or not you will borrow federal loans or private student loans, make sure you understand whether or not interest accrues while you’re in school, if there is a grace period when you graduate, and how much interest your lender is charging you.
How to get a student loan in 4 simple steps
Don’t be daunted by the task of finding funds for school. Taken a step at a time, this process is manageable, if a bit long (so don’t wait till the last minute). We’ve broken it down into the four big steps you’ll need to take.
DETERMINE HOW MUCH YOU NEED FOR COLLEGE
The first step is figuring out how much college tuition costs at your school. Check your school’s website for the annual cost of attendance along with room and board. Try to estimate the costs of books and supplies as well.
RESEARCH & COMPARE LOAN OPTIONS
Federal and private loans are available to help students make up the difference between the money they have and the money they owe. Make sure to compare loan options based on interest rates, repayment terms, and whether the rates are variable or fixed.
APPLY FOR YOUR STUDENT LOAN
Once you’ve compared loan options and decided on financing that meets your needs, it’s time to apply and get the ball rolling. Fortunately, our online world has made it easier than ever to apply for educational loans from the comfort of your own home.
GET APPROVED, ACCEPT, AND SIGN!
You may only need to wait a few days to hear whether you’re approved for the funds you need for school. And once you’re approved, the rest of the process is simple. Accept, sign, and start your education journey!
Am I eligible for a student loan?
Whether for community college, a university, graduate school, or even the supplies necessary to go to school, a student loan can help you cover expenses when you might not be able to afford them on your own.
If you’re looking to pursue any of the following degree programs, our partners can match you to a lender that will meet your needs:
✔ Associates Degree
✔ Bachelor’s Degree
✔ Master’s Degree
And, if you have no credit or poor credit, that’s not a problem. With the majority of students having to borrow money for educational expenses, lenders aren’t going to punish you for not yet establishing your credit.