Private Student Loans

 

Private Student Loans are student loans that are disbursed from private companies, separate from the Federal Government. Private student loans are considered a “loan of last resort” because their interest rates are higher and they all require a credit-worthy individual to sign for the loan. However, these loans are a good source of educational funding and should certainly be considered before a credit card.

When reviewing your financial aid award letter, you should

  • First, accept grant and scholarship awards, as these are both awards that do not have to be repaid
  • Second, accept any federal work-study if offered
  • Third, accept any federal student loans, as these are loans with low interest rates, possible subsidized interest payments, and generous repayment plans

Greenville Technical College does not have a preferred-lender listing for private loans. We recognize that you have many choices when considering a private loan; therefore, we have provided a listing of those lenders that Greenville Tech students utilized in the previous school year. This is not an all-inclusive listing and you are not in any way required to use any of the lenders listed below. You may choose a lender that best meets your needs and requirements. In addition to the following list, you can use general Internet search engines to look for private loans.