Private loan application process — get pre-approved in minutes if you qualify!
However, once you determine that a private student loan can be a viable alternative funding source to cover your education finance gap, you could be pre-approved for a private loan within minutes of applying! Many times the application process is very simple and can, with most lenders, even be handled over the phone or online.
Longer pre-payment terms and no pre-payment penalties can help you better manage your cash flow after college
When it comes to paying back your private loans, many lenders give you up to 20 or 25 years to do so. The absence of pre-payment penalties means that as long as you make your minimum monthly payment, you can pay off your loans as fast or as slow as you want within your repayment term.
Interest rate discounts can help lower your cost of private loan borrowing even more!
Many private loan lenders would like to have your business. So be sure to shop around, and make sure to ask each lender about these and other private loan “borrower benefits” such as:
• An interest rate discount for automatic payment from a savings or checking account
• An interest rate discount for simply making on-time payments.
• Little or no origination fees, if you or your co-signer has good credit
For more information on Private Student Loans visit www.onesimpleloan.com/private_loans.asp
