Private Education Loans


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Private Education Loans

Private Education Loans

 

Private student loans (also known as alternative student loans or personal student loans) can help you pay for college, generally at better interest rates than other lines of credit. You should only use private student loans as supplemental funding after you have exhausted all other sources of financial aid, including grants, scholarships, and federal student loans. As with any student loan, be conservative and only borrow what you absolutely need.

Aultman College adheres to a Financial Aid Code of Conduct to prevent conflict of interest between Aultman College of Nursing and Health Sciences’ lender relationships and their responsibilities to students, the College, and its organizations (e.g., alumni). This policy upholds the Higher Education Opportunity Act and the Student Loan Sunshine requirements as required by educational institutions receiving Title IV funds.

Students should only consider obtaining a private education loan if they have taken out a Federal Stafford Loan first. They should also file the Free Application for Federal Student Aid (FAFSA), which may qualify them for grants, work-study and other forms of student aid. Once a student has used up all other financial aid choices, a private student loan is a credit based loan supplied by a lender to help students to pay for the costs necessary for their education. Tuition, books, and living costs may also be expenses for financial aid.

 

Additional information on private educations loans can be found at http://www.finaid.org/loans/privatestudentloans.phtml

 

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