09.12.07 | Borrowers are Going Private
This afternoon I helped Debbie who attends Bentley College as a first year student. She just realized that with tuition, books and food, her federal student loan wouldn’t get her through her first school year. After much research she decided to take out an $8,000 Act Education Loan through the Student Loan Network. She was hesitant at first because it is a non-federal loan with higher interest rates. However she did some shopping around and the other loan companies that she looked at had the same rates. She realized that this loan is necessary for her to survive her first year and it’s just something that she is just going to have to deal with. She applied for the loan over the phone in under 5 minutes, was approved and the loan check will be arriving to her home in 5 days.
For many taking out a private loan is the only option. I don’t actually think this a bad option because this is the only way for a student to go to school. Lets face it, nobody likes loans but there’s no better thing than investing in yourself and your own education!
The Student Loan Network: Stafford Federal Student Loans, Parent PLUS Loans, Student Loan Consolidation, Private Student Loans, Education Loans/College Loans