Private Student Loans
Federal Student Loans
Graduate Private Student Loans
When scholarships and Federal loans are not enough, the GradLoans Private Student Loan is here to cover any unmet needs. With competitive interest rates and no application or out of pocket fees, the GradLoans Private Student Loan is a great, flexible supplement to your financial aid package. Specially created for graduate students with unmet financial need, our goal is to make education possible!
Features
- The funds are disbursed directly to the applicant(s) [a] , not the school.
- There are no federal forms to complete and no application deadlines.
- There is a 12-month grace period after graduation before loan repayment begins. [b]
Limits
- Loan minimum of $2,500 per academic year.
- Loan maximum of 100% of the total calculated Cost of Education per academic year with an aggregate lifetime maximum of $250,000.
Interest Rates
- Interest rates as low as Prime minus 0.5% to Prime plus 7.9% [c].
- Apply with a creditworthy co-signer to increase the chances of approval and of obtaining a lower interest rate and/or loan fee.
Fees
- Loan fees range from 0% - 9% [c] depending on the applicants' credit profile and other underwriting criteria.
- Loan fees are automatically financed, so you have no out-of-pocket expenses.
- Apply with a creditworthy co-signer to increase the chances of approval and of obtaining a lower interest rate and/or loan fee.
Repayment
- Loan repayment begins 12 months after graduation or six months after you cease to be enrolled on at least a half-time basis. [b]
- Up to a 25-year repayment term. [d]
- Level and graduated repayment options with forbearance up to one year.
- There is no prepayment penalty.
Benefits
- Interest rate discount up to 1% for on-time payments and direct e-payment. [e]
- Interest may be tax deductible for qualified taxpayers.
Apply online or call 866-930-3967
The interest rates and loan fees associated with the Student Loan Network Direct to Student Loan are generally higher than the interest rates and loan fees associated with the Student Loan Network School Certified Student Loan. Interest on the Direct to Student Loan capitalizes quarterly while interest on the School Certified Student Loan capitalizes only once, at repayment.
[a] The Direct to Student Loan does not require school certification and the proceeds are disbursed in the form of a check co-payable to the borrower and cosigner (if applicable), mailed directly to the applicant with the stronger credit profile.
[b] For the Student Loan Network Direct to Student Loan, repayment will begin no later than 60 months (5 years) after the loan is disbursed.
[c] In all cases, interest rates and loan fees vary and are based upon borrower and/or co-signer (where applicable) credit profile, and other underwriting criteria. See our Rates and Fees page for Annual Percentage Rate (APR) examples and other important information about our private student loans.
[d] The repayment period may be less than the 25-year maximum allowed depending on the borrower's indebtedness at the beginning of his or her repayment period and the requirement that the borrower either satisfies a $50 minimum monthly payment amount (level schedule) or the terms of a graduated repayment schedule.
[e] At all times the discount rates and co-signer release terms are subject to change. The on-time benefit must be earned. Co-signer release is contingent upon the borrower's credit profile which will be reviewed by the Lender prior to release. Loan delinquency, default, or the use of forbearance may result in the revocation of all Borrower Benefits.
[a] The Direct to Student Loan does not require school certification and the proceeds are disbursed in the form of a check co-payable to the borrower and cosigner (if applicable), mailed directly to the applicant with the stronger credit profile.
[b] For the Student Loan Network Direct to Student Loan, repayment will begin no later than 60 months (5 years) after the loan is disbursed.
[c] In all cases, interest rates and loan fees vary and are based upon borrower and/or co-signer (where applicable) credit profile, and other underwriting criteria. See our Rates and Fees page for Annual Percentage Rate (APR) examples and other important information about our private student loans.
[d] The repayment period may be less than the 25-year maximum allowed depending on the borrower's indebtedness at the beginning of his or her repayment period and the requirement that the borrower either satisfies a $50 minimum monthly payment amount (level schedule) or the terms of a graduated repayment schedule.
[e] At all times the discount rates and co-signer release terms are subject to change. The on-time benefit must be earned. Co-signer release is contingent upon the borrower's credit profile which will be reviewed by the Lender prior to release. Loan delinquency, default, or the use of forbearance may result in the revocation of all Borrower Benefits.
