Loans for students

Student loans are a significant liability for students with a middle class background graduating for college as college fees and living expenses are substantial. If there is a  delay in repayment of the student loan or missing even a single installment due to unavoidable circumstances, it can affect the credit report of the individual and career prospects as many employers consider the credit score as an indication of the fiscal responsibility. By comparing the features of the various student loans, the student can minimise any future problems.

Though some students may qualify for financial aid from the government, these are limited in number and are available to those with an excellent academic record. Though more expensive, College loans from private lenders are available for students at different stages of their career or their guardians.

However private student loans offer more flexibility and can be used to cover tuition, fees and living expenses. These are unsecured loans, and supplement the funds the student and his or her family may have raised using other methods like their savings, part time jobs and financial assistance from other sources.