How to apply for a student loan

Being a student is difficult when it comes to payments for university, accommodation and other expenses. You may want to have at least one of savings, grants, scholarships and federal student loans to pay for college. If you ever need private student loan, you should find the student loan which suits to you best.

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The most memorable, most enjoyable years of your life will probably be college years. But these beautiful years will bring some responsibilities. One of the most important of these responsibilities is that you pay for university, accommodation and other expenses. If you don’t have enough financial resources, you will need to apply for the best student loan that suits you. Financhaser is on your side to overcome this complex process.

When looking for private student loans, we recommend paying attention to all details, such as low interest rates, different loan terms, reimbursement plans, lender offers.

You can see the best private student loans we have selected for you below.

About Student Loan

Student loan is a type of loan provided to meet the payment needs of students; like education, books and life.

Being a student is difficult when it comes to payments for university, accommodation and other expenses. You may want to have at least one of savings, grants, scholarships and federal student loans to pay for college. If you ever need private student loan, you should find the student loan which suits to you best.

Types of Student Loan

Federal Student Loans

Federal loans are that the government in US provides students with sort of a loan to cover sheltering, school expenses and daily needs. These loans have lower interest rates compared to private loans, and conditions that will enable students to easily repay. Here is website.

FAFSA (Free Application for Federal Student Aid)

FAFSA is a type of loan given to student by The Department of Education. You can fill out the free application form at fafsa and complete your application. Here, information requested from you is your college, your family circumstances and other related information needed to verify your eligibility for financial aid.

You entitle for low-interest and student loans forgiveness, when you fill out the FAFSA form. Even you have enough money to cover your expenses, having this loan can still be a good option. Since the information will be updated every year, you can update your application and try your chance.

Private Student Loans

Private student loan is a kind of student loans provided by a bank, a lender or a school, except from government. Also there are private student loans types for specific circumstances; such as bar exam loans, international student loans, student loans for bad credit, student loans without a co-signer and special loans for medical or dental school.

When comparing student loans, features that you should pay attention is: 1) interest rates should be low, 2) repayment terms, 3) lender offers. You can see the compare table of private student loans chosen for you. And you can compare the student loans and apply for a student loan.

Refinance Student Loans

For instance, you have got a student loan and you could not repay regularly because of some reasons. A new loan that allows you to finance your current loan is called as refinance student loan. Also you can merge your last private and federal loans under a single student loan. Thus you have just one loan with lower interest rate.

Didem Sagindik
is a Sr. Research Analyst at Financhaser, focusing on Loans. She has PhD on Business Management.

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