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For many families, taking a loan is the only way to make up for the deficit in funds after exhausting all other sources for free financial aid and scholarships. While taking a loan does help bridge that gap between the total fees and your available funds, it is important to understand how much you will end up having to pay back by way of interest.
Lenders and Loans
It’s not simple. Each financial institution has their own stipulations regarding taking and repaying college loans. The total cost of the loan will depend on how much you intend borrowing, the term of the loan, the interest percent and the repayment terms and condition.
Search Online
There are several online sites where you can find online calculators that allow you to calculate the cost of different types of college loans. All you need to do is enter in the terms of the loan and the calculator will computer the total cost of the college loan. This will give you a good idea of how much you will have to pay at the end of the loan term so that you are not in for a huge shock when that time comes.
Word of Advice: Regardless of your available funds, it is a good idea to first explore all federal loan options before researching private loans. These are usually easier to get and they also have a lower rate of interest.
| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
5.34%-15.96%* Variable
3.99%-15.61%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
 |
4.92% - 15.08% Variable
3.99% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.50% - 17.99% Variable
3.49% - 17.99% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.00% - 13.75% Variable
3.99% - 13.75% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
5.50% - 14.56% Variable
3.69% - 14.41% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
3.70% - 8.75% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
4.99% - 16.85% Variable
3.47% - 16.49% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
5.00% - 14.22% Variable
3.69% - 14.22% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
