Loan Choices – Select the loan you're applying for:
Private Student Loans
A Private Education Loan is an unsecured consumer loan made by lenders to students and/or their parents
to cover the cost of education. These loans may be used to cover costs not met by the federal,
government-guaranteed student loans available.
This type of loan is playing a growing role in allowing students to attend the college of their choice.
Learn More >
Private Loan Consolidation
This consolidation loan has been created to help recent graduates manage repayment of any private education
loans taken out during his or her studies. This loan can include $10,000 to $150,000 in eligible
private student loans. The borrower must be creditworthy or must obtain a creditworthy co-borrower.
Learn More >
ScholarPoint is not currently offering a Private Consolidation Loan.
Federal Loan Consolidation
This loan is available to any borrower (both students and parents) who wants to refinance his or her
outstanding government guaranteed student loans into a fixed rate loan with a lower monthly payment.
The base consolidation interest rate is taken from the weighted average rate of the loans to be consolidated.
All federal education lenders determine the base consolidation interest rate using this method.
In addition, a longer repayment term and lower monthly payments make repayment easier and more manageable.
Learn More >
Due to legislative changes affecting federal student loans and turmoil in the financial
markets, ScholarPoint has suspended its Federal Consolidation Loan program.
Please contact your financial aid office or current lender to apply for a consolidation loan.
Federal Parent Loan for Undergraduate Students (PLUS) Loan
PLUS loans are available to an eligible parent of a dependent undergraduate student attending a participating
post-secondary school. Parents can borrower amounts covering the total cost of education minus financial
aid received. A PLUS Loan borrower must pass a basic credit check (credit score and income are not factored
in) and is responsible for repaying principal and interest from the time the loan is funded.
The interest rate is set annually by the U.S. Department of Education.
Learn More >
Federal Stafford Loans
This loan is available to students attending an eligible post-secondary school. There is no credit-worthiness requirement, but each loan must be certified by the school attended. There are two types of Stafford Loans – unsubsidized and subsidized. A student who demonstrates financial need is eligible to have the federal government pay the interest on the loan until repayment of the loan begins. A student may have a combination of subsidized and unsubsidized loans. Learn More >