Private Student Loan College Life

5 Tips for Choosing the Best Private Student Loan

If you’ve already applied for grants, scholarships and federal student loans, but you still have a college financing gap, your next logical step is to apply for a private student loan.

However, not all education loans are created equal. Some may appear to be affordable, publishing a low teaser rate that no one actually qualifies for. Other loans have hidden fees, or a prolonged, complex application process. By the end of it, you learn that you have qualified for a high rate – much worse than you expected – but you’re so exhausted with the process, you just go ahead and take out the loan.

To help you avoid falling into the trap, we’ve compiled a few tips to help you avoid the most common pitfalls when choosing a private student loan.

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