Private Student Loans, Alternative Loans
Unsecured, Credit-Based, Non-Federal Student Loans
Also known as private student loans, private education loans, alternative loans, alternative student loans, or K-12 loans, private loans are unsecured, credit-based non-Federal student loans for tuition, books, computers, and living expenses including room and board.
Why Student Benefit Services Private Loans?
Sometimes even federal student loans are not enough to cover your financial aid gap. That's where our private student loans can be a cost-effective alternative non-Federal loan source: Compared to federal student loans, private student loans typically have slightly higher interest rates. However, the interest rates on private student loans can be substantially lower than conventional credit products such as personal loans, credit cards and even home equity loans.
In addition, private education loans offer payment deferment benefits that most conventional loans don't. With a private loan, you don't have to start paying back the loan until you (or your child) leaves school or graduates.
It's Easy to Apply
Visit our private loan website today, http://web.sbs-educatedborrower.com or call us toll-free at 1-888-825-1510.
In addition to reviewing your application for a private loan, our student loan specialists will be happy to assess your entire student loan financial aid package to see how you can take advantage of low Federal loan interest rates and other benefits. There's no bligation and no application fees!
KEY BENEFITS
- Private Loans offer interest rates that are usually lower than conventional bank loans or credit sources.
The interest rate for the SBS loan is based on the London Interbank Offered Rate (LIBOR) plus a margin based on the loan type. LIBOR moves in smaller increments than the Prime Rate, and rate changes have been similar to those of the United States Treasury Bill. The rate is adjusted quarterly based on the average of the one-month LIBOR published in The Wall Street Journal on the first business day of each of the three calendar months immediately preceding each adjustment date. For more information and the current LIBOR rate, click here.
- Generous borrowing limits
Up to $40,000
- Interest rate discount options
- Save an additional .25 percentage point immediately with automated repayment ("auto-debit")
- Save another .25 percentage point for 36 consecutive on-time payments made through auto-debit
- Co-signer release option after 48 consecutive on-time payments made through auto-debit
- Tax benefits
Interest may be tax-deductible
- No payments required until after graduation
There is a six-month grace period following either graduation or from the time the student ceases to be enrolled at least half-time
- No prepayment penalty
- No-hassle application process
Quick pre-approval
- Use for both Collge and Vocational Education Programs
The Student Benefit Services private loan can be used for Undergraduate/Career Education (including Technical and Trade Education), Graduate/Professional Education and Continuing Education
- Available for K-12 Education for Younger Children
Our private loans are also suitable to pay for K-12 education
May be eligible for consolidation
- Helps you manage your debt after graduation
Private Loan
Fees
SBS Private Loans are subject to origination fees that may vary based on your credit rating or the combination of your credit rating with that of your co-signer.
How to Get the Pre-July 1st Interest Rate After the Deadline!
According to the U.S. Department of Education, if you have "substantially completed" a student loan consolidation application prior to July 1, 2006, you may still qualify for the lower pre-July 1 interest rate, even at this late date!
CURRENT STUDENT LOAN CONSOLIDATION
INTEREST RATES
5.375% - 6.125%*
Testimonials