选择贷款
An alternative student loan (also known as a private loan) is a private educational loan offered by private lenders, such as banks and credit unions. 总是通读 of 的 terms and 条件 before applying for any type of loan.
选择与. 联邦贷款
There are several key differences between alternative and federal loans:
选择贷款
- 贷款人设定条款 & 条件
- Loan terms vary from lender to lender
- Generally have a higher variable or fixed interest rate
- Higher interest may increase 的 total repayment amount
- Interest received will depend on your credit score
- Repayment may begin while in school
Federal Direct 工作人员ord 贷款
- Terms and 条件 are set by 的 federal government
- 贷款 are guaranteed by 的 federal government
- Federal government determines 的 interest for 的 loans
- 利息是固定的
- 还款计划各不相同
- No credit check required
- Payment deferred while enrolled half time or more
Before applying for alternative loans, students should consider lowest-cost options 首先,我.e. grants and scholarships (which do not have to be repaid) and federal direct loans (which have low, fixed interest rates).
利率 and Rate Accrual
The following table compares interest rates and rate accrual for a $10,000 loan.
| 贷款类型 | 利率 | Daily Accrual while in school | Daily Accrual after 6-month grace period |
|---|---|---|---|
| Federal Direct 工作人员ord Subsidized | 5.05%* | *$0 | $1.每天38美元 |
| Federal Direct 工作人员ord Unsubsidized (Undergrad) | 5.05% | $1.每天38美元 | $1.每天38美元 |
| Federal Direct 工作人员ord Unsubsidized (Graduate) | 6.60% | $1.每天80英镑 | $1.每天80英镑 |
| Federal Direct PLUS (Graduate or Parent) | 7.60% | $2.每天08英镑 | $2.每天08英镑 |
| 选择贷款 | 从4不等.0% - 15.0% | $1.09 - $4.每天10块 | $1.09 - $4.每天10块 |
*Subsidized loans do not accrue interest while student is enrolled at least half time or during 的 6-month grace period after graduation.
如何申请
Before 应用 for an 选择贷款:
- Student must be enrolled in courses for 的 semester. 菠菜网lol正规平台 will only certify for Fall, Spring, Summer, or 的 current academic year.
- Open University Students are considered non-matriculated. Student must apply with a bank or credit union that allows non-matriculated status.
申请过程
- Select a lender by going to ELMSelect Private Student 贷款. In 的 "School 搜索" box, enter San Jose State and select a lender program from 下拉列表.
- Contact 的 selected lender and complete an application. Note: Students can apply with any bank or credit union that offers student loans. ELMSelect is a great resource to compare lenders, but it is not a comprehensive list.
- 贷款人 will complete a credit check and make an approval or denial. 贷款人 will contact you if any additional information, or a co-signer, is needed. 申请人 will receive various disclosure statements from 的 lender explaining interest rates, terms, fees, and total cost of 的 loans. 贷款人 may ask for a self-certification form.
- Once 的 applicant has been approved and 的 lender has received all required documentation, 的 lender will notify 菠菜网lol正规平台 to complete a certification form. 表单将验证 student's enrollment data, cost of attendance and estimated financial assistance. 记住: school cannot certify more than your cost of attendance minus o的r aid received. Certifications can take 2-3 weeks to certify.
- Funds are received and posted by 的 财务主管的办公室(失效链接). For questions regarding funds received, contact 的 Bursar.
Students that have questions regarding certification or loan amounts should contact 的 金融援助 & 奖学金办公室 at 408.283.7500或fao@pxamerica.com.
