You've got questions, we've got answers.
Here are some FAQ’s to help get you started.
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Common FAQS

How much can I borrow?

You may borrow up to your school’s cost of attendance, less any other financial aid you received. The loan amount must be certified by the school.

What is the interest rate?

Interest rates are based on credit, repayment, and term options chosen. Learn more about our interest rates.

What are the repayment options?

Undergraduate Loan
  • 10 or 15-year term
  • Interest-only payments while in school
  • Full principal and interest payments while in school
Graduate Loan
  • 10 or 15-year term
  • Interest-only payments while in school
  • Full principal and interest payments while in school
  • Fully-deferred principal and interest payments while in school
Refinance
  • 10, 15, or 20-year term
  • Full principal and interest payments

Are there any fees?

There are no fees or prepayment penalties.

Can a Non-US Citizen apply for the loan?

Yes, a Non-US Citizen can apply with a sufficient and unexpired permanent resident card.

What is auto payment?

Payments are automatically deducted from your bank account each month.

What can I use the loan funds for?

Tuition, fees, books, etc. Basically any education-related expenses your school will certify.

Do I need to complete my FAFSA?

We recommend applying for one of our private loans only after accepting federal student aid. Private loans should only be used to cover any additional costs that federal student aid cannot cover.

Do I need a cosigner?

Over 80% of our borrowers have cosigners. Applying with a credit worthy cosigner may reduce the interest rate you’re eligible for.

Who can be my cosigner?

It is recommended that your cosigner be a parent, grandparent, spouse, or guardian.

Is there a minimum income requirement?

Undergraduate and Graduate Loan
  • You must make an annual income of at least $25k or you are required to apply with a cosigner.
Refinance Loan
  • You must make an annual income of at least $45k or you are required to apply with a cosigner.

Do I have to be working to apply?

No, you do not have to be working. If you are currently unemployed, you will need a credit worthy cosigner to apply with you.

Who can I use for a reference? What information is needed?

Anyone can be a reference as long as they are not living with you. You will need their name, phone number, and address.

Are the funds disbursed to my school or me?

The funds are sent directly to the school on the scheduled disbursement date.

Do you have any military benefits?

If you are a qualifying servicemember under the Servicemembers Civil Relief Act and your loan was disbursed before you entered qualifying military service, the annual interest rate on your loan, which includes other charges and fees, is limited to 6% during any period you are performing qualifying military service. You must request the interest rate limitation.

What is the process of my application?

1. Apply for the loan
2. Sign the credit agreement electronically
3. Upload documents (income verification and any other required documentation)
4. School certification will be sent to your school
5. Receive school certification back
6. You accept Approval Disclosure
7. We send Final Disclosure to you
8. We disburse funds to your school