866-930-3964

Get the Funds You Need with a Private Student Loan

Let's Get Started!
First Name:
Last Name:
Email Address:
Grade Level:
I have read and understand the privacy policy.

Scholarships and federal aid typically fall short of providing all the money you need to finance your education. A private student loan from the Student Loan Network allows you to borrow up to the cost of education, no repayment until after graduation, and no need to complete the FAFSA.

  • Funds disbursed directly to you
  • Defer payments until 12 months after graduation [a]
  • Co-signer release available after 36 months [b]
  • Borrow up to the entire cost of education

To be eligible for a private student loan, you must:

  • Be enrolled at least half-time at an eligible institution;
  • Be making satisfactory academic progress;
  • Be at least 18 years of age (19 in Nebraska and Alabama, 21 in Puerto Rico and Mississippi. Mississippi residents between the ages of 18 and 20 may borrow with written consent from a parent or guardian);
  • Be a U.S. citizen or an eligible non-citizen holding a valid unexpired Alien Registration Receipt Card (INS form I-151 or I-551); and
  • Meet lender underwriting criteria. A co-signer is required if the borrower has minimal or no credit history. The co-signer may be a parent, or any other eligible person who meets lender underwriting requirements.

Private Student Loan Payment Examples

The examples in the table below are for illustrative purposes only but should help you understand how much a student loan might cost. The actual rates and fees of your loan may vary from the examples below depending upon your credit history and other underwriting criteria. For all of the examples below, the loan fees are included in the loan amount. The Prime Rate as of April 1, 2008 is 5.25%.

Interest Rate Loan Fee Repayment Fee APR Monthly Payment
Prime - 0.5% 0% 0% 4.72% $64.68
Prime + 3.9% 5% 0% 9.44% $106.97
Prime + 4.9% 5% 0% 10.40% $118.37
Prime + 4.9% 7% 0% 10.61% $118.37
Prime + 5.9% 9% 0% 11.79% $130.40
Prime + 7.9% 9% 0% 13.70% $156.36

Please note that the examples above are based on the following assumptions:

  • You borrow $10,000 which includes your loan fee;
  • Your loan is disbursed in two disbursements, one on September 1 and one on January 2;
  • You are in school for 22 months after disbursement;
  • Interest capitalizes once at repayment;
  • Your grace period is 12 months;
  • You request a repayment period of 300 months (25 years); and
  • The Prime Rate remains constant at 5.25% (as of 4/1/2008).

Please also note that a change in the interest rate may result in a change in your monthly payments. This means that if the Prime Rate increases, the Annual Percentage Rate for your loan will increase and would result in higher monthly payments and/or an increase in the number of scheduled payments.

This information is strictly for illustrative purposes. Your Student Loan Promissory Note and Truth-in-Lending Disclosure Statement will contain the actual terms and conditions of your CampusDoor loan. Upon receipt of your Disclosure Statement, it is up to you to decide whether or not to accept the loan. If you do not accept the proceeds of the loan, you will owe nothing. If you do accept the proceeds of the loan, you are responsible to repay the full amount of all disbursements and applicable interest in accordance with the terms of the Student Loan Promissory Note.

[a] The deferment grace period is defined as 12 months from graduation or 6 months after a student drops below half-time enrollment. For the Student Loan Network Direct to Student Loan, repayment will begin no later than 60 months (5 years) after the loan is disbursed.

[b] At all times the discount rates and co-signer release terms are subject to change. The on-time benefit must be earned. Co-signer release is contingent upon the borrower's credit profile which will be reviewed by the Lender prior to release. Loan delinquency, default, or the use of forbearance may result in the revocation of all borrower benefits.

The Student Loan Network Direct to Student Loan does not require school certification and the proceeds are disbursed in the form of a check co-payable to the borrower and co-signer (if applicable), mailed directly to the applicant with the stronger credit profile. The interest rates and loan fees associated with the Student Loan Network Direct to Student Loan are generally higher than the interest rates and loan fees associated with the Student Loan Network School Certified Student Loan.

Student Loan Network offers this Private Education Loan through an arrangement with Campus Door, Inc. All loans are subject to credit approval. Lender is Lehman Brothers Bank, FSB. Equal Opportunity Lender. All Rights Reserved. Edvisors is compensated for the referral of private loan customers to the Lender.