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ERIC Number: ED560038
Record Type: Non-Journal
Publication Date: 2014-Jun
Pages: 2
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Private Loans: Facts and Trends
Institute for College Access & Success
Private loans are one of the riskiest ways to finance a college education. Like credit cards, they typically have variable interest rates. Both variable and fixed rates are higher for those who can least afford them--as high as 13% in June 2014. Private loans are not eligible for the important deferment, income-based repayment, or loan forgiveness options that come with federal student loans. Private loans are also much harder than other forms of consumer debt to discharge in bankruptcy. The facts and figures provided in this document reflect the most recent data available about undergraduate private loan borrowing and the evolving private loan market. The figures represent borrowing in one academic year (2011-12).
Institute for College Access & Success. 405 14th Street 11th Floor, Oakland, CA 94612. Tel: 5110-559-9509; Fax: 510-845-4112; e-mail: admin@ticas.org; Web site: http://www.ticas.org
Publication Type: Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Institute for College Access & Success