Private Lending for Higher Education
Midland University encourages families to exhaust all of their Federal financial aid options before considering a private education loan. Students and parents are free to seek educational loans through any lender they choose. FASTChoice helps you to determine the right loan for you and your family. Private education loans are not need-based loans; they are based on credit-worthiness. Most students will need a creditworthy co-signer (such as a parent or relative) in order to be approved for an alternative loan.
There are many ways to pay for higher education, and choosing the right approach requires a good understanding of your options, your responsibilities, and the various details of each lender's loan products.
It's a lot to keep in mind. FastChoice makes it easy by providing you with information about private loans in an easy-to-understand format, to help you determine which private student loan best meets your needs.
Borrowing Essentials provides an interactive overview of some basic information about borrowing money to pay for your education.
The next few pages will quickly get you up to speed. Having a good understanding of these topics will help you get the most out of what you borrow on the best possible terms. You'll be better equipped to make an informed decision.