Please make sure
that you first consider all possible Grants,
Scholarships, Federal Stafford and Parent PLUS loans
that are available, before you apply for Private
Educational loans. Private Loans generally have higher
interest rates that will cost you more in the long term.
Private Loans (or
Supplemental Loans) are loans based on ability to repay and credit
rating. You do not need to fill out the FAFSA in order to apply
for these loans. They are not based on financial need. Some of these loans
will ask for a co-signer and most of the interest rates will be
higher than the rates for a Federal Stafford or PLUS loan.
You may choose any
Lender you wish. Please research the Repayment Options, Interest
Rates, and Borrower Benefits to help determine which loans will most
benefit the student. Private loans suggested for those attending the Lyme Academy
College of Fine Arts include the
following:
P R I V A T E L O A N S
L I S T
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