For those looking for a neutral, timely and comprehensive private loan lender list, SLA created Private Loan Options with the following features:
- Lists sixteen major lenders, including credit unions, regional and national lenders
- Details interest rate ranges and fees for each loan product
- Provides timely updates when changes occur to lender margins or interest rate indices (LIBOR or Prime Rate)
- Identifies and provides links to 16 states with alternative loan programs providing your students with fixed-rate alternatives
- Generates dynamic list of lenders each time page is refreshed
- Provides borrowers with standard application and solicitation disclosures to help them compare private loans
- Lists borrower benefits, cosigner release terms and whether lenders require payments while student is in school
- Provides upfront statement encouraging borrowers to seek federal loans first
- Describes common loan terms with a borrower glossary
Here is just a sampling of the colleges currently linking to SLA's Private Loan Options site:
- Central Michigan University
- Fairfield University
- Fashion Institute of Technology
- Quinnipiac University
- Rochester Institute of Technology
- Scripps College
- Stanford University
- Syracuse University
- University of Colorado
- University of Michigan
- University of New Haven
- University of Washington
- Vermont Technical College
Note that SLA does not receive any compensation from any lenders for placement on this list nor does SLA receive any fees for loan volume generated by any lenders.
For those interested in providing their students with a link to a neutral, comprehensive listing of private education lenders with all the features listed above, just add the following link to your financial aid website (there is no cost!): http://studentlendinganalytics.com/alternative_loan_options.html
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