Cost Of Attendance Required To Get A Private Student Loan?
I have looked at many lenders online that offer private student loans and all of them state that the amount you request may not exceed the cost of attendance. Are there any lenders that allow you to borrow a loan without requesting your schools cos info? I thought that you were only allowed to borrow up to the cost of attendance in the Stafford, Perkins, loans. The private loans were to help you supplement additional expenses, like off campus housing?
Need Answers? Psychic Readings by Phone said
am August 19 2009 @ 11:06 pm
Private loans that require school certification take into consideration the cost of attendance less all other aid.
The cost of attendance estimate the school uses in certifying these loans includes an estimate for tuition, fees, books, supplies, personal/misc and room and board.
Be warned: private loans have high interest rates, are not tax deductible, require a cosigner, do not have any of the forgiveness provisions federal student and parent loans offer and require a credit check. They should be used only in extreme circumstances.