Questions to Consider When Comparing Private Educational Loans

• What are the minimum and maximum loan amounts?
• What credit considerations exist?
• Under What conditions are co-signers required?
• What options are available to release the co-signer at a later date?

• What are the rates today and what is the maximum rate?
• Do these rates fluctuate and if so how often?
• How is the interest calculated?
• What happens to the loan if the interest rate changes?
• Are there any fees?
• What interest reductions or other incentives can be offered during the life of the loan?
• Do these vary based on my credit, academic level, or whether or not I have a co-signer?
• Are there late charges assessed, how much?

• What are my repayment options?
• Can interest-only payments be made while I'm still in school?
• When do I begin payment?
• Is there a penalty for prepayment?
• Are grace periods, deferments, and/or forbearances offered and if so What are the terms and conditions for each?

• What is the processing time for credit decisions and disbursement of funds?
• How can I resolve problems?
• Will I have access to my loan information via the Internet?
• Are these loans typically sold to other lenders?