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Out of Our Own Pockets
Loans
Beyond the Stafford and PLUS loan programs, there are many other private sources of loans for college. Many do not offer rates as low as those offered by the federal loan programs. However, the rates are usually lower than many other types of commercial loans. In the case of private student loans, these usually do not have to be repaid until the student graduates or drops below half-time enrollment. Talk to the financial aid officer at the college your student plans to attend to see if they have negotiated any preferred rates with private lenders. You also can do a simple search on the Internet to pull up information on many companies that provide these kinds of student loans. Be sure to compare interest rates, fees and customer service options before making any final decisions.
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