What is a Direct-to-Consumer Private Student Loan?

Direct-to-consumer private student loans are not verified by the school you are attending. The college or university is not involved in the loan process or amount you are borrowing. They are based solely on the cost of attendance of the school and your personal financial situation and credit score. 

Eligibility

Eligibility is based on your status as a student and your personal finances. As these loans are not guaranteed by your school or a federal loan program, you may need a cosigner on the loan. 

Limits

Direct to consumer loans are only extended up to the cost of attending the institution. Recreational stipends or living costs are not factored into the size of the loan. Students may elect to work while attending school in order to cover these costs.

Interest and Fees

Interest, fees, and payments schedules depend on the institution you elect to work with and the way you negotiate the loan. Student loans tend to be among the most flexible for repayment, so it is always advisable to explore options and elect a plan that works for your situation. 


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