Private loans are available to students through selected lending institutions to help pay educational expenses. Private loans, which are not insured by the federal government, have repayment terms that vary depending on the lender from which you borrow. Casa Loma College encourages students to explore federal and state grants and loans, and to consider the anticipated monthly loan payments along with expected future earnings before considering a private education loan. Federal student loans are required by law to provide a range of flexible repayment options and loan forgiveness benefits, which private student loans may offer but are not required to provide.
Generally, private loans require that the borrower is a U.S. Citizen, a U.S. national, or a permanent resident and must be creditworthy. If the student has no credit or a poor credit history, he/she may still qualify for a loan by applying with a creditworthy co-borrower.
Casa Loma College does not make any recommendations regarding private lender selection for students who decide to pursue private loan options. Be sure to research and review each lender’s terms and conditions before making a final decision.
A list of lenders is available at:
Casa Loma College – Van Nuys #006731-00:
https://www.elmselect.com/link/query?schoolid=605
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