Student loans from private lenders total an estimated $ 91 billion, or about 7 percent, of the $ 1.2 trillion student loan market, with federal government loans making up the lion's share, according to MeasureOne, a student loan analysis firm.
When you take out
a student loan from a private lender, you'll typically be offered more than one repayment plan.
Student loans from private lenders can also be borrowed with a variable interest rate, meaning that interest payment goes up or down depending on the current interest rate of the market.
«Taking that logic one step further means that
student loans from private lenders can be discharged in bankruptcy if they were made to students who didn't attend an accredited program or were lent more money than the cost of attendance.
If you need to apply for
a student loan from a private lender, make sure you have a co-signer with a good credit score if you don't have a good credit score or if you want to have a better interest rate.
You can opt to have
a student loan from a private lender.
When you take out
a student loan from a private lender, you'll typically be offered more than one repayment plan.
If you have
a student loan from a private lender, you must contact that lender directly to find out their program requirements.
Help is coming for beleaguered borrowers who took out
student loans from private lenders.