Sunday, December 28, 2008

Frequently Asked Questions About Alternative Loans

Are there any fees?

There are no origination fees, no guarantor fees, and no prepayment fees associated with this loan.
What are the interest rates?

Interest rates will be based on you and your cosigner's credit history and are generally stated as an index, such as Prime or LIBOR, plus a margin.
Is the interest tax deductible?

Interest on student loans may be tax deductible. Please consult your tax advisor or visit irs.gov for more information.
How soon will I receive my funds?

Alternative student loan funds are usually disbursed within 14 days of receiving all necessary paperwork.
Who offers alternative student loans?

Banks, private lenders and other financial institutions offer alternative student loans.
How long are repayment terms for alternative student loans in general?

Repayment terms typically range from 15-25 years.


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