Personal Student Loans
Student loans are complicated. What makes matters worse is that they are referred to by so many different names – student loans, college student loans, personal student loans. It’s hard to keep track of which terms refer to which types of loans.
Personal student loans can refer to either federal student loans or private student loans – and there’s a big difference between the two. Federal student loans are guaranteed by the federal government and generally carry lower, fixed interest rates, but they have relatively low loan limits. Private student loans, on the other hand, are frequently variable rate loans which allow students to borrow up the full cost of education.
The private student loans do not generally have application deadlines, so students can apply whenever they need additional funds to cover education expenses. Some private personal student loans are disbursed to the school, but Think student loans are sent directly to the borrower – and a borrower can get their check in about a week.
You can apply online for a Think student loan or apply over the phone by calling 1.800.350.8060. It takes about 15 minutes to apply, and applying with a creditworthy co-signer greatly improves your chances of being approved for a personal student loan. If you can’t finish your loan application during the session, you can always save your loan application and finish applying when you are ready.
A Think student loan – which is a private version of personal student loans – can be deferred until after graduation¹. And Think student loans can be used to cover education-related expenses like tuition, room and board, books, travel home and a computer.
A Think student loan is the smart choice:
- Get a check sent directly to you
- No payments required while you are in school¹
- Apply online or over the phone in minutes
- Borrow up to $40,000 per year²
- Preliminary approval in as little as 15 minutes
Get a check sent to you in about a week
Apply Now!
¹ Undergraduate students may choose to defer repayment until six months after graduation or ceasing to be enrolled at least half time in school. Interest only and immediate repayment options are also available. Graduate repayment is automatically deferred. Continuing education borrowers begin repayment the earlier of a) 180 days after the student graduates or earns a certificate; b) 180 days after the student ceases to be enrolled; or c) two years after the date of the loan disbursement. K-12 loans are immediate repayment loans.
² Undergraduate and graduate borrowers may borrow annually up to the lesser of the cost of attendance or $30,000 ($40,000 for certain schools where it has been determined that the annual cost of attendance exceeds $30,000) and up to the aggregate amount of $130,000. Borrowers in Continuing Education and K-12 loan programs may borrow annually up to $30,000 and up to the aggregate amount of $130,000.
