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.
Private Student Loans may be a viable option for students who:
Terms and conditions of private student loans vary according to the loan providers. Look for differences in interest rates, fees, credit checks, co-signer requirements, loan limits and terms of repayment. Students are encouraged to engage in smart consumerism practices and evaluate each loan product closely prior to choosing a lender. For additional help in knowing how to evaluate lenders, visit Mapping Your Future’s Private Loan Guide. Please note that private student loans are not eligible for loan consolidation programs through the federal government.
Trinity International University has adopted a Code of Conduct, page in compliance with sec 487(a) (25) of the HEA of 1985.
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