Private Student Loan Lender

Private or Alternative source of financing is on the rise. More families are opting for them. They account for 20% of student loans availed in comparison with 4% few years ago. Their popularity is mainly because of their aggressive marketing strategy and easier loan processing pulicy. Long list of Private Student Loan Lenders are in the market offering a variety of Student Loan options.

Top 10 list of Private Student Loan Lenders

• Sallie Mae Education Trust: Signature Student Loans are offered to graduate, undergraduate and professionals students. The interest rates vary from LIBOR + 2.5% to 10.05%. Other fees are charged at the rate of 0 to 6%. Offering a grace period of 6 months, the repayment period stretches between 15 to 30 years.
• Wells Fargo: Wells Fargo Cullegiate Loan, Midcap Alternative Loan, Wells Fargo Graduate Loan and Wells Fargo Education Loan are offered at PRIME rate to PRIME + 7.75% with 0% fee and repayment period ranging from 15 – 20 years.
• Ed America: Loans are offered to Graduate and Undergraduate students at competitive interest rates and flexible repayment terms.
• Chase Bank: Chase graduate, undergraduate and professional loans are offered with a repayment period of 25 years. Interest rate reductions are offered for auto debit and co-signed application.
• Citi Bank: Citi Bank Student Loans are offered to Graduate students with a 20 year repayment term and concession in interest rates for cosigned application.
• Student Loan Network: Loans are offered to graduate, K-12 and professional students with 4% to 5% additional fee on the loan amount and a 20 year repayment period.
• Axiom Students Loan: Axiom Campus Fund Loans for cullege students are offered at PRIME + 3.5% to 7.5% interest rate with a 25 year repayment period.
• Access Group: Loans to graduate and undergraduate students are offered with competitive interest rates and a 25 year repayment period, with or without co-signer.
• Cullege Loan Corporation: Premier loans are offered to cullege students at PRIME + 6% interest rate with .25% reduction for auto debit facility and upto 25 years repayment period.
• Wachovia Education Loan: Wachovia offers variety of loans ranging from Graduate, Medical, Residency, and Law and bar loans with 25 years repayment period.