Question by cichlid96: Are private student loans relatively easy to get as long as you are enrolled? Since the repayment doesnt start till 6 months after graduation, I would assume it's easy to get the loan, am I right on this? My worst nightmare is to get accepted into a school and not have the private student loan accepted. Best answer for Are private student loans relatively easy to get as long as you are enrolled?:
Answer by Meilani
Private student loans are hard to get unless you (or a co-signer) has good credit. Astrive Loans is quick at approving and sending you a check. I used them for paying for UOP. The process took a little over a week.
Answer by Master of Health
Private student loans usually depend on the credit status. If you or your parents have good credit then you are more likely to get approved. Sometimes if you do not have established credit or good credit then you may be asked to get a co-signer.
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Easy Student Loans
What are student loans?
Pursuing higher education is not possible for all. This is because these degree programs are very costly. Many students fail to enroll in them as they cannot manage to pay for the fee and other related expenses that these courses involve. This is where student loans come to the aid of such individuals. In simple words, student loans are financial aid programs that are offered by government and private organizations in order to facilitate students who lack the money to pay for higher education. There are various types of student loans that one can avail. The criteria of application and approval as well as the money you can get in these loans vary.
The objective of student loans
The idea of student loans is to enable more and more students to enroll in advanced degree programs so that they can pursue a rewarding career.
Types of student loans
Generally, student loans can be divided into two types. These include federal student loans and private student loans. Federal student loans have further categories such as the Stafford loans, Perkins loans and Plus loans. These loans are basically offered by the government to students with financial need. The rate of interest of these loans is lower compared to other types of student loans. Also, the payback terms of these financial aids are very manageable.
Stafford loans can be availed by the one who have financial need and cannot pay for the cost of their education on their own. These loans can be subsidized or unsubsidized. Subsidized loans do not require students to pay the interest during the course of education. In this case, the government takes care of the interest until students complete their degree program. Unsubsidized student loans, on the other hand, require students to pay for the interest on their own. Perkins Students loans also based on financial need. The borrowers can return the amount that they get in these loans over a period of 15 to 25 years. Plus loans are another kind of federal student loans. Other than the students, parents can also get these financial aids.
Private student loans are offered by private organizations like banks. To apply for these loans, students generally need to have a good credit score. Some lenders also offer these loans to students who do not have good credit history. Students can get the money to pay for their entire education cost and related expenses through private student loans. However, the rate of interest in private loans is higher compared to the interest rate of loans that are offered by the government. More Easy Student Loans Issues
