Private or alternative student loans are credit-based loans available from participating private lenders that help students to cover gaps in the financing of their education. Private student loans should be considered an option of last resort, after all other resources, including federal student aid, have been exhausted. Educational debt should be very carefully considered and limited to amounts needed to fill a gap between cost and other sources of finances.
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Student loans can come from the federal government or from private institutions like banks. The money is borrowed and will need to be paid back to the government or bank with interest.
Trinity International University is the ONLY institution in the country that provides our new undergraduate online students with a student loan repayment assistance promise: if your income after graduation is less than $50,000, we can help you repay your student loans after graduation (federal and private loans included).
We want to empower our students to focus on pursuing their passions knowing their future is secure. We will help you follow life wherever it may lead because student loan debt won’t hold you back. This innovative award is provided at no cost to students. Receiving this loan repayment assistance program (LRAP) is automatic for new undergraduate online students who start their TIU education in the 2021-22 school year (August 2021 through June 2022). Students will retain this benefit through their TIU education and through graduation. These students may receive additional information from TIU and/or Ardeo Education Solutions. To learn more, visit myLRAP.org.
This is a low-interest loan taken out by the student. The FAFSA must be completed in order to be eligible. Repayment begins six months after graduation or if the student drops below half-time status. The Subsidized Loan is based on need, and interest is paid by the government while the student is in school; interest on the Unsubsidized Loan begins to accrue upon disbursement of funds.
Get in touch today and one of our counselors will contact you soon to help you start your journey at Trinity!