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Private Student Loans – Dispelling The Myths
I donÂ't have any collateral, so I canÂ't get a private loan.
Private loans are usually unsecured, which means no collateral is required. On the downside, this may also mean a higher interest rate.
I donÂ't have a good credit history (or no credit history at all)
Since the government doesnÂ't back private loans, your credit history is a consideration in being approved for a loan. If your credit history is bad or non-existent, you may be subject to a higher interest rate. And remember, you can always get a co-signer. Pay your loan off on time, and soon you will have a good credit history!
I have enough funds for tuition and fees, so I canÂ't get a...
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