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Student Loan Services

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Our goal is to provide tools that help students and parents research and compare student loan programs. We will help you find the financing you need to pay for higher education.

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Student Loan Options To Be Aware Of

Private Student Loans
Private student loans are a great option for do not qualify for federal aid such as Stafford loans. Private student loans are typically any type of loan that a student obtains from a private lender such as a bank or a credit union. While federal student loans do check your credit score, private student loan lenders will usually check your credit in order to determine your eligibility. For students that do not have any credit yet, you can increase your chances of being approved by finding a credit worthy cosigner.

Federal Student Loans
Federal student loans are granted to students by the federal government based on financial need. Financial need is determined by filling out an online FAFSA application. A FAFSA consider things such as income, savings and assets of you and your parents to determine financial need. Stafford subsidized loans are granted to students with the most financial need. The federal government pays the accruing interest for subsidized student loan holders while they are in school. Unsubsidized student loans are for students with less financial need and the government does not pay the accruing interest while you are in school.
Federal Student Loans come with flexible repayment programs. Students do not usually have to start making payments until 6 months after they graduate. This 6 month period is referred to as a grace period and is provided to students to give them enough time to secure employment. The federal government also has a program in place for borrowers who experience significant financial hardship such as the loss of a job. In these cases, students only have to make a monthly payment that is equivalent to a percentage of their income. There are also instances where individuals can completely defer payments until their income increases.

Student Loan Rates
Loan rates will vary by the loan type and the financial lender. Most federal student loans come with set interest rates and are not determined by a student's credit rating. Most Stafford loans come with interest rates from 6 to 8%. Perkins federal loans typically have an interest rate about 7%. Rates for private student loans will vary depending on the lender and the student?s credit rating. Students can usually get a better interest rate if they have a credit worthy cosigner.

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