PrivateStudentLoans.com, a subsidiary of Student Loan Network, recently launched a unique online private student loan comparison tool (www.privatestudentloans.com/compare/) to help students make informed decisions about private student loan lenders. Many loan comparison tools require borrowers to submit personal and financial information before beginning the comparison process. This new tool is distinctive because there is no upfront registration requirement. Borrowers can use this resource to get information about multiple lenders in one place and then decide which loan product they would like to pursue. When federal financial aid is not enough, many students turn to private student loans to help pay for college. With so many different lenders and loan products available, it can be difficult for students and parents to find quality information in one place. This new research tool, as part of PrivateStudentLoans.com, gives students an easy way to compare private student loans (http://www.privatestudentloans.com/compare/). It provides both at-a-glance and detailed information about private student loans from a variety of different lenders, as well as the opportunity to apply online. So far six leading student loan lenders have been included in the tool.
Students often apply for private student loans without knowing all of the details because they need money for school quickly. When applying for a private student loan (http://www.privatestudentloans.com/) it is important for the borrower to know all of the information about the loan up front. The comparison tool creates transparency in the application process illuminating interest rates, fees, and repayment expectations. "For some students, private student loans are an integral part of paying for college," said Jonathan Rudy, Director of Student Loans. "We hope that this tool will take the guesswork out of private student loans and help students make responsible borrowing decisions."
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