Loans

An education loans is a form of financial aid that must be repaid, with interest. When students receive a student loan, it is borrowing money to attend college. It is important to understand repayment options to successfully repay student loans.

Education loans come in three major categories:

  • Federal Loan: student loans (Direct loans) parent loans (PLUS loans)
  • Private Loan: private student loans 
  • Consolidation Loan: consolidation loan

Understanding Loan Types

  • Federal student loans and federal parent loans are funded by the federal government.
  • Private student loan are non-federal loans, made by a lender such as a bank, credit union, state agency, or a school.
  • Consolidation Loan are a combination of several student or parent loan into one bigger loan from a single lender.

Comparing your student loan options is the best way to save money on the cost of borrowing. Fastweb and Student Loan Hero by Lending Tree have reviewed the top private student loan lenders to help you make an informed decision.

Grants, scholarships, work-study and other forms of gift aid just do not cover the full cost of a college education. Many students find that they must supplement their savings with government and private loans. The Federal education loan programs offer lower interest rates and more flexible repayment plans than most consumer loans, making them an attractive way to finance your education. You can also deduct up to $2,500 in student loan interest even if you don’t itemize deductions on your income tax return.

Student Loan Providers

CITIZENS

Citizens offers loan options for undergrad, grad students and parents with competitive rates, flexible terms and interest rate discounts.

Multi-year approval option available for qualified applicants.  Multi-Year approval provides an easy way to secure funding for additional years in school without completing a full application and impacting your credit score each year.

Loan

Choose between our student or parent loan options with competitive interest rates and flexible payment terms.

Limits

Loans from $1,000 to $295,000 depending on education level.

Rates

Variable rates as low as 1.03% APR* and fixed rates as low as 3.49% APR* including all available discounts.

Fees and Terms

No application or origination fees. 5, 10, or 15 year options available. Rate and Repayment Examples.

MPOWER FINANCING

A student loan based on your future potential.

By international students, for international students.

MPOWER offers student loan that don’t require cosigners, collateral, or a credit history to international and DACA students attending over 350 universities in the U.S. and Canada.

To apply, you must be:

  • An undergraduate or graduate student within 2-years of graduating or about to begin a 1- or 2-year program.
  • An international student, DACA recipient, a U.S. citizen, refugee, or asylum seeker.
  • Admitted to or attending one of over 350+ universities in the U.S. or Canada we partner with

Check your loan eligibility in 30 seconds. Our application process is fully online and seamless.

Loan

Student loan options without cosigner, collateral, or credit history. We offer fixed-rate student loan based on your future potential to international and DACA students in 150+ countries studying in the U.S. or Canada.

Limits

Loans from $2,001 to $50,000

Rates

Fixed rates from 6.49% (7.52% APR) to 12.49% (13.63% APR), including 1.50% in available discounts.

Fees and Terms

No prepayment penalty.

Interest-only payments in school and for 6 months after graduation. 10-year repayment of interest and principal starting 6 months after graduation.

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