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How to Score a Loan for College

How to Score a Loan for College

Anne Tergesen / BusinessWeek

Private Loans

Many families use private loans to bridge the gap between the rising cost of college and the maximum students can borrow in Stafford loans. Some choose them over PLUS loans because private loans leave the student, rather than the parent, on the hook for repayment. Private loans generally have variable rates, which now range from 6% to 16%. The rate a borrower will pay depends in part on his or her credit score. Fees on these loans can be as high as 11.5%.


Poll: How do you feel about crying at work?

Poll: How do you feel about crying at work?