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Federal student loans. Private student loans. Interest rates. 5.50% to 8.05% for loans disbursed before July 1, 2024. 6.53% to 9.08% fixed for loans disbursed after July 1, 2024
Private student loans are a type of personal loan specifically designed to pay for education expenses. These are offered by banks, credit unions, state agencies, universities and online lenders.
A private student loan is a financing option for higher education in the United States that can supplement, but should not replace, federal loans, such as Stafford loans, Perkins loans and PLUS loans. Private loans, which are heavily advertised, do not have the forbearance and deferral options available with federal loans (which are never ...
You can even get private loans for certain career training programs. More From Best Banks: The Best Online Banks of 2025. You Can Borrow Up to the Cost of Attendance. Federal student loans limit ...
Direct-to-consumer private loans were the fastest-growing segment of education finance. The "percentage of undergraduates obtaining private loans from 2003–04 to 2007–08 rose from 5 percent to 14 percent" and was under legislative scrutiny due to the lack of school certification.
Federal student loans are usually best, but you may still need private loans.
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