Private College Loans
With the cost of college tuition continuing to increase, private college loans have
become a necessary source for bridging the financial aid gap left by federal college
loans and scholarships. Unlike federal college loans, private loans are not guaranteed
or subsidized by the federal government. Instead, private college loans are provided
by private lenders.
Private college loans are generally credit-based which means the student and/or
parent must pass a credit test to be approved. Private college loans generally carry
variable interest rates and allow students to defer payments until after graduation.
A Think Student Loan, which is a private college loan, does not have any application
deadlines and students can borrow up to the full cost of education up to a $250,000
lifetime aggregate maximum. Our private college loans allow students to defer payments until
after graduation and students get a 6 month grace period following
If federal financial aid is not enough and you need to consider a private college
loan, a Think Student Loan might be right for you. You can apply online or over
the phone in approximately 15 minutes.