THE WORLD OF STUDENT LOANS CAN BE A CONFUSING ONE.
There are a lot of meanings, regulations, and terms that go into it, and when you don’t know where to begin, it can feel overwhelming. That’s why we’re here!
If you’re asking yourself “what are student loans?”, allow us to explain.
STUDENT LOAN MEANING
The term “student loan” encompasses a variety of options available to help pay for college. It is a form of financial aid, and is offered by the federal government as a type of federal financial aid. Many private businesses and organizations also offer private student loans to students looking for help paying for college. Student loans are a great resource to bridge the gap between what your financial aid will cover and your school’s total cost of attendance.
HOW TO GET A STUDENT LOAN
The process for qualifying for and obtaining a private student loan can vary between lenders, but in general, you’ll need the following:
- Demonstrated credit history (or a cosigner with strong credit to help you qualify)
- Proof of income (income requirements can vary depending on the lender and loan amount)
Check out our articles below to learn more about what you’ll need to apply for a student loan.
WHERE TO FIND PRIVATE STUDENT LOANS
We partner with the top private student loan lenders to provide relevant, trustworthy information on finding money for college. Here, you’ll find tools and advice on finding the best student loans, plus:
- Sallie Mae student loans
- Discover student loans
WHAT HAPPENS TO STUDENT LOANS AFTER COLLEGE?
Taking out a student loan is only part of the process! After graduation is when the real work begins. Most student loans give you a grace period of a few months after you graduate college to begin repaying your loan(s), and at this point, you enter the repayment stage. We break down everything you need to know about making this transition, and what options are available to you if you’re concerned about repaying your loan(s).
We’ve got everything you need to learn about the different types of student loans, what your options are, and more to help you get from application to repayment! Get started below.