Private Student Loans
Private Student Loans
Information about how private student loans work and when you should consider one.
12 articles
Written by Sparrow Support
Do I need a cosigner for a private student loan?
Whether you need a cosigner depends on a variety of factors such as your age and your credit history.Written by Sparrow Support. Updated over a week ago
Will the loan money be sent to me or my school?
Receiving the funds for your private student loan depends on whether you’re borrowing an in-school loan or refinancing an existing loan.Written by Sparrow Support. Updated over a week ago
What is a student loan?
A student loan is a loan borrowed from the government or a private lender, designed to help you pay for your college education.Written by Sparrow Support. Updated over a week ago
Is it better to take out student loans for all four years at one time or one year at a time?
It’s better to take out student loans one year at a time.Written by Sparrow Support. Updated this week
What is the difference between federal student loans and private student loans?
Federal student loans and private student loans are different in a few ways.Written by Sparrow Support. Updated over a week ago
How does repayment work on private student loans?
Repayment terms will vary depending on your specific lender and loan.Written by Sparrow Support. Updated over a week ago
Why should I take out a student loan?
Students typically take out student loans to pay for college after they’ve exhausted all scholarship, grant, and work-study options.Written by Sparrow Support. Updated over a week ago
What should I consider when taking out a private student loan?
There are a few main factors to consider when taking out a private student loan: APR, principal, loan term, monthly payment, and total cost.Written by Sparrow Support. Updated over a week ago
How much can I borrow for a private student loan?
In general, our lending partners' maximum loan amount is based on your school’s COA minus any financial aid you’ve already received.Written by Sparrow Support. Updated over a week ago
How do I receive the funds for my private student loan?
Receiving the funds for your private student loan depends on whether you’re borrowing an in-school loan or refinancing an existing loan.Written by Sparrow Support. Updated over a week ago
When should I consider private student loans?
You should only consider private student loans after you have exhausted scholarships, grants, and federal aid opportunities.Written by Sparrow Support. Updated over a week ago
Are student loans worth it?
Student loans are typically considered “good debt” because of the return on investment.Written by Sparrow Support. Updated over a week ago