College Student Loan Review

College student loan is an alternative to the student’s financial aid, the college student loan helps cover any expenses related to the student’s education, such as tutors, books, travel, etc… ConditionsAlso known as a private student loan, the college student loan requires some conditions to be met. For example:•You must have worked for at least 2 years, even if you are self-employed, they’ll need to see records that you have been up and running for 2 years.•You must be able to attain proof to confirm your current income.•Your credit history must be reliable for at least the past 21 months.•You must have been at your current address for at least 12 months.•You must be a U.S. citizen, or have resided in the U.S. for the past 2 years.A college student loan with a cosignerIf you are unable to satisfy the above conditions, then you are likely not going to get your college student loan, unless you can attain a cosigner. A cosigner must fulfill the above conditions and must be reliable. Benefits of acquiring a college student loan with a cosigner can include a better chance for approval of the loan, reduced fees, reduced interest and monthly payments and less interest paid on the long run. College student loan benefitsAny college student loan can be used to pay any current or past educational expenses. Also, the college student loan usually has a flexible repayment plan (according to student loan refinancing program) and a good deferral period, usually until graduation. In addition the college student loan usually doesn’t enforce any penalties for pre-payment.A college student loan usually offers payments as low as $25. In addition, the limit to the loan can reach up to $130,000 as a whole; and this number varies annually.

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