What is the Best Place to Get a Student Loan?

Potential college students have no shortage of options when it comes to getting student loans. There are a variety of different companies and organizations that offer them, some of which are government-based. But what is the best place to get a student loan? With all these options, it’s no wonder that many people feel completely overwhelmed when trying to decide where to apply.

Citi Student Loans

Many up and coming college students end up borrowing money for school through Citi Student Loans, and this company may be the best place to get a student loan that isn’t affiliated with the government. Most people have heard of Citi – they are pretty well known lenders nationwide – but not everyone is aware that they offer student loans. Through Citi, people can apply for graduate, undergraduate, law, and health student loans. It’s also possible to apply using a cosigner, which might increase a person’s chance of getting a loan approved.

Stafford Student Loans

Stafford student loans are federal loans, and a large number of people believe that Stafford is the best place to get an easy student loan. No cosigner may be needed for Stafford loans in many cases. One of the best things about getting a loan through Stafford is that the money is typically obtainable regardless of a person’s credit score. Students are also generally not required to pay back any borrowed money until six months after graduation, which frees up lots of time to concentrate on school and other important things rather than spend time in school worrying about financial issues.

PLUS loans

PLUS loans are a form of federal student aid, but they work a little differently than most student loans. With PLUS loans, parents generally borrow the money for their children’s tuition. The interest rate is low at only 7.9 percent, but parents must have good credit in order to qualify. College students may also apply for PLUS loans on their own as long as they are either graduate or professional students. PLUS loans are a great alternative to student loans for unemployed people because they offer parents the chance to cover tuition costs for their children who may not have a source of regular income.