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Private Student Loan
Private student loans are also known as alternative student loans or personal student loans. It can help you pay for college, generally at better interest rates in comparison to other lines of credit. You should only use private student loans as supplemental financial support after you have exhausted all other sources of financial aid.
Private student loan volume is rising much more rapidly than federal student loan volume (ex. 25% per anum versus 8% per anum). If existing trends continue, annual private education loan volume will exceed federal student loan volume within a decade. Accordingly, it is important that candidates have tools they can use to compare different private student loans.