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Private/Alternative Education Loans

Private Education Loans, also known as Alternative Education Loans, are offered by private lenders. Eligibility for private loans often depends on your credit score.

Private education loans tend to cost more than the Federal Loans. The Federal Loans provided by applying through FAFSA offer lower interest rates and better repayment and forgiveness options. Because Federal Loans offer better terms than private loans, students should exhaust Federal Loan eligibility before resorting to private loans.

Some private lenders can be found at fin aid.org
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