How Private Loans Work - Private Student Loans  

Private student loans are a remarkable departure from the federal suite of loan products. Federal loans are low-interest, very affordable financial tools specifically designed to give American students the easiest access to higher education. Private loans, on the other hand, have been criticized for their variable interest rates, that can turn as ludicrous as the worst credit card rates, and their shockingly high loan limits.

•These are credit-based loans. If you have poor credit or no credit chances are likely you will have to find a co-signor in order to borrow.
•Variable interest rates could put you at the mercy of a fickle industry.
•Feature no grace periods: you are required to begin loan repayment as soon as funds are disbursed.
•May be packaged with hidden borrower fees.
•Often require a minimum loan amount.
How Private Loans Work - Private Student Loans

FinAid | Loans | Private Student Loans
U.S. Bank. Loans which do not require school certification include: Chase Private Student Loans; Wells Fargo Education Connection Loan ...Discover Student Loans - Certified Private Loans for College Students
Certified private loans help supplement your other sources of financial aid, ... You must be a U.S. citizen or a permanent resident with a Social Security ...