PRIVATE STUDENT LOAN FACTS

Private student loans serve important purposes, primarily to provide gap funding for undergraduates who need to pay for college. In addition, for some families and graduate students, private loans can be a sensible alternative to federal loans, especially PLUS loans... Almost 97% of private student loans are being successfully repaid. That is largely due to the high level of underwriting required to receive a private loan, as well as the use of cosigners.