Private student loans - Available, Flexible and Simple

Private student loans, or alternative loans funded by banks and non-profit organizations, provide another source of financial aid for students. But what they are really about is: availability, flexibility and options.

Availability. Federal financial aid is limited and it's no secret that appropriations for aid have not kept up with rising tuition costs and inflation. Act Education Loans provide up to $40,000 per year*, a far more realistic loan limit for many of today's private colleges, filling the gap between the total cost of education and available financial aid.

Flexibility. Deadlines, deadlines, deadlines. It seems at every turn in financial aid, there's another deadline to watch, another date to file paperwork by, another meeting or session to attend to qualify for aid. Act Private Student Loans give you the flexibility to apply for a private student loan whenever the need arises during your time as a student. Tuition due before the semester starts? No problem. While federal loans may not disburse until a month into the semester, these private student loans can fund in as few as five business days after receipt of your completed application. Past due balance? No problem.

Private Student Loan = Freedom. There are thousands of educational institutions in the United States, and not all of them are certified under Title IV of the Higher Education Act. This doesn't mean they're not valid educational institutions - not at all. Some schools simply choose not to accept federal funding (and the stringent requirements that come with that decision). Act Private Student Loans are available to students attending any TERI-approved school, including more and more private and non-traditional educational institutions, giving you the freedom to pursue whatever path in life you want to follow. A college education is still the best investment and the best private student loans help make it a reality.

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* Undergraduates and Graduates may borrow annually up to the lesser of $40,000 or the estimated annual cost of attendance, $130,000 aggregate maximum borrowing limit.