Private Student Loans
ScholarPoint's private student loan makes paying for college easier.
Our private student loan offers you the extra cash you need to pay for college through a
straightforward online process that saves you a ton of time and effort.
Our online application and quick turn-around time combined with competitive rates
and flexible repayment options have made ScholarPoint a favorite resource for
students that need to cover rising college costs.
Private Student Loan Overview
Helpful Hint
Applying with a co-signer increases your chances for approval and lowers your interest rate.
A co-signer release option is available after 48 months.
- Borrow up to $45,0001 annually
- Interest rates as low as 4.05% APR2
- Simple Online Application
- Flexible repayment options
- Receive check in as little as 7-10 business days
- View the complete benefits package
Private Student Loans Explained
While federal student loans offer the lowest interest rates and the most flexible repayment terms,
they can fall short of covering all your college expenses. Private student loans can fill this void,
covering just about any college cost like: tuition, fees, books, supplies, room & board.
Most students can meet the eligibility requirements
with the help of a co-signer and receive their funds directly in about a week.
As you determine the best way to finance your education, you should consider the full range of student
financial aid options available. Private loans can be used when federal loans, grants, and other forms of
financial aid are not sufficient to cover the full cost of education.
Private Student Loans are subject to credit approval, receipt of a completed and signed Application and
Promissory Note, verification of application information and of student's enrollment at a participating school.
Receive a Personalized Rate
Once we receive your completed application, we will review your credit history and the history of
your co-signer - if applicable.
If approved, you will receive an email with a personalized quote that will specify the rate
you qualify for.
Just 3 Steps to Follow
Here are the 3 basic steps to getting a ScholarPoint private student loan.
- Apply online and have an answer on your application within minutes!
- Receive a short list of items we need to verify.
- Return the requested items.
Receive a check in as little as 7-10 business days
1 $45,000 is the maximum loan amount per year.
The 4 year loan total cannot exceed $75,000 for undergraduates or $150,000 for graduate students.
Your total loan amount also cannot exceed the total cost of attendance for your school.
2
The Annual Percentage Rate (APR) is based on the one-month LIBOR index
plus a margin based on your (or your cosigner's) credit worthiness.
See the
Rates & Benefits
page for more details.