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Personal Student Loans
More and more students are bridging the financial aid gap with personal student loans, such as Loan to Learn that are based on a borrower's income and credit history.
In fact, these loans are currently the fastest growing source of education financing.
What are the advantages?
Personal loans don't require filling out long, complex federal student aid forms, like FAFSA or the Stafford Loan application. Approval is based on credit and income.
In addition, personal loans offer more money and more time to pay it back than federal loan programs. Finally, these loans let borrowers – not some third party – decide how much they need.
Who can apply?
Applicants must be U.S. citizens or permanent residents. Because personal loans are credit-based, having a good credit history and steady income are key. Applying with creditworthy co-signers — such as parents — can significantly increase your chance of qualifying for a loan, being granted a higher loan amount and getting a better interest rate and a lower monthly payment.
What about deadlines?
There are no deadlines for our personal loans. You can apply any time during the year. Our loans can ordinarily be disbursed in as little as two to five days after signed applications are received. If you're half way through a semester and realize you can't make ends meet, it's time to look into a personal student loan.
What is the application process?
The easiest way to apply for a personal student loan is online. Loan to Learn has an online application with fast approvals and a quick turnaround on loan disbursement. It's usually just a few days from application to processed check. Or, you can call toll-free and handle your application quickly and easily over the phone.
How does repayment work?
Repayment usually begins right after disbursement. With many student loans including Loan to Learn you can choose total deferment, or you can choose to pay only monthly interest while you’re in school (partial deferment), or you can begin full repayment immediately. You choose the option that best suits your needs.
How is the interest rate determined for a Loan to Learn Education Loan?
The interest rate for a Loan to Learn Education Loan is the Prime Rate, adjusted monthly, plus or minus a margin depending on your credit history.
Are there any applications or origination fees for a Loan to Learn Education Loan?
There may be an origination fee which is determined by the loan amount and credit evaluation. If a fee is charged, it will be added to the principal of your loan and financed with the loan amount.
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