1 Undergraduate and graduate borrowers may borrow annually up to the lesser of the estimated annual cost of attendance or $30,000 ($40,000 for certain schools where the cost of attendance has been determined to exceed $30,000). Borrowers in Continuing Education programs may borrow up to $30,000. Subject to credit approval.
2 Undergraduates may defer repayment until six months after graduation or ceasing to be enrolled at least half-time. Immediate and interest only repayment options are also available. Graduate repayment is automatically deferred. Continuing education borrowers begin repayment the earlier of a) 180 days after the student graduates or earns a certificate; b) 180 days after the student ceases to be enrolled; or c) two years after the date of the loan disbursement. K-12 loans are immediate repayment loans.
About Private Student Loans
Private student loans are a great supplement to financing college. When other aid options fall short, students can use private student loans to make up the difference between the cost of education and financial aid received. You can borrow up to $40,000 or more per year with a private student loan to pay tuition, books, supplies, transportation and even a computer. With a private student loan, you will make no payments until after you graduate.
There are plenty of lenders out there who are more than happy to lend you the money. Incentives and ad displays promising you all the money you need without having to pay anything until after graduation is one way that lenders lure borrowers. This sounds enticing, but are you certain that you understand the long-term costs using a private student loan? See our article at our www.SayStudent.com aid center on understanding the true costs of private student loans.
The lender for the SayStudent Private Student Loan program is RBS Citizens, N.A., Member FDIC and Equal Opportunity Lender. RBS Citizens, N.A. may sell your student loan to a third party. RBS Citizens, N.A. will only sell your student loan if the third party agrees to honor all of RBS Citizens, N.A.'s promises to you, including all promised benefits that you will receive or might become eligible for during the loan repayment period.