Private loans for students?

annasdad
Sat, 30 Jul 2011 09:20:19 +0000

Digging deeper, into the referenced website:



Borrowing Limits: The ability to finance up to the total cost of education minus financial aid received



the above has this footnote:



As determined by your school. Minimum borrowing amount is $1,000. The [trade name] Student Loan does have lifetime aggregate limits (including both federal and private loan debt) of: Undergraduate: $120,000; Graduate: $150,000; Business and Law: $175,000; and Medical: $225,000.





Loan approval is based on credit. If students do not have sufficient credit to be approved on their own, they are encouraged to apply with a qualified cosigner. Cosigner release option is available after 36 consecutive, on-time payments.



which appears to shade, at least in part, the come-on lingo in the press release