1. How can I apply for a private student loan if I haven't received the tuition bill yet?
You can estimate the amount you'll need to borrow by using the cost of attendance provided in your financial aid award letter.
Estimate on the high end. It's easier to lower the loan amount later than to increase it.
2. Why should I apply for the full school year?
When you submit your application for the amount needed to cover the full year, you can lock in your interest rate.
Interest doesn't start accruing on the loan until after each disbursement.
3. When should I start applying?
Now! Student loan interest rates are on the rise. Apply early to lock in a lower rate.
NOTE: We recommend you borrow federal student loans first. Once you've exhausted your federal loan eligibility, carefully compare your options from private lenders.
TIP:If you complete your loan shopping (including submitting applications) within a 30-day window, credit bureaus will not penalize your credit score for submitting applications to multiple lenders.
Debbie Schwartz
Founder, Road2College
I'm a parent, like many of you, navigating college admissions and paying for college. With an expertise in personal finance, analysis, and marketing, I'm working to give families the information and tools to make smarter financial college decisions.
Disclaimer: The information provided in this email is for general informational purposes only. Road2College is not a financial advisor or planning service, and as such, cannot be held responsible for any direct or indirect circumstances. Please consult a licensed financial professional before making any financial decisions. Road2College may receive compensation from products and links featured in this email. When evaluating offers, please review the financial institution’s Terms and Conditions. Pre-qualified offers are not binding.
Debbie Schwartz, Road2College, 19072, Narberth, United States
