alternative student loan
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New Loans Lower Cost of Graduate School in Ohio; Graduate Students ...
CINCINNATI--(BUSINESS WIRE)--July 12, 2006--As of July 1, graduate students are eligible for borrower PLUS loans. The State of Ohio's designated nonprofit student loan lender, Student Lending Works (www.studentlendingworks.org), introduces new Ohio Grad PLUS Loans that provide unmatched benefits and are specially designed for Ohio graduate students.
Student Lending Works is offering Ohio Grad PLUS loans at a fixed rate of 8.5% and a 2.25% interest rate reduction option. Ohio Grad PLUS loans are great alternatives to private loans:
-- With private loans, borrowers cannot consolidate into the Federal loan system.
-- Private loans do not offer flexible payment options.
-- There is no cap on interest rates with private loans, other than state mandates, which can reach as high as 21% or 22%.
More alternative student loan info
MyRichUncle, InYourFace
In the highly competitive student loan market, a new lender trying to get a bite at the apple has a couple of options. The safe but slow route is to try to persuade college financial aid directors — who are often gatekeepers to the lenders' potential customers, the students — to recommend them, formally or informally. With a series of eye-catching full-page ads in The New York Times and USA Today and a strategy of undercutting other lenders on its base rates for federal student loans, a new company called MyRichUncle has chosen the alternative route: seeking to win over individual borrowers.
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