Welcome to the student loan center
Pursuing higher education is an exciting time in your life. It's filled with promise and opportunity. It's a time to think about all the possibilities that lie ahead: greater knowledge, a new career path or higher earning potential. In other words, it's all about your future.
And it's also all about right now. Because you need to figure out how you're going to pay for it today. As we all know, being a student is expensive. The good news is there are plenty of ways to get a student loan - from federal student loans to private student loans - and even some alternative options.
Your education is one of the biggest purchases in your life. It's important that the student loans you choose are right for you. This page is chock full of valuable information to help you navigate your student financial life so you can make the wisest decisions.
Top five reasons for student loans
- Your parents can't afford to send you to college
- You have other financial obligations
- You have poor credit or no credit
- You have no income of your own
- You need to consolidate all your monthly payments
You're not alone! Most people take out student loans. The process doesn't have to be difficult. Just be patient and use the resources on this page to help you find the student loan that's right for you.
Students borrowing irresponsibly 65%
Unfortunately, about 65% of students misunderstand the terms of their own student loans. That means they aren't comparing option, reading the fine print or asking questions about one of the most important financial decisions they'll ever make. Don't be one of them.
- Debt-to-Income Ratio (DTI)
- Debt-to-income ratio – also referred to as DTI, back-end ratio or bottom-end ratio. It’s the total of all monthly debt payments including the proposed... <a href='/glossary/what-is-debt-to-income-ratio-dti' title='See the full definition of Debt-to-Income Ratio (DTI)'>read more</a>
- Loan Program
- A loan program is the interest rate feature and the terms of your loan. <a href='/glossary/what-is-loan-program' title='See the full definition of Loan Program'>read more</a>
- A borrower is a buyer who does not pay cash, but instead finances some or all of a purchase. <a href='/glossary/what-is-borrower' title='See the full definition of Borrower'>read more</a>
- A lender is an entity that makes funds available for borrowing. <a href='/glossary/what-is-lender' title='See the full definition of Lender'>read more</a>
- Annual Percentage Rate
- The cost of credit, including the interest and fees, expressed as an interest rate. APR was created to make it easier for consumers to compare loans... <a href='/glossary/what-is-annual-percentage-rate' title='See the full definition of Annual Percentage Rate'>read more</a>
- Interest Rate
- Interest rate is the percentage of the loan that will be paid annually as the interest. <a href='/glossary/what-is-interest-rate' title='See the full definition of Interest Rate'>read more</a>
- Monthly Payment
- The monthly payment is how much a borrower will pay each month toward principal and interest on a loan. <a href='/glossary/what-is-monthly-payment' title='See the full definition of Monthly Payment'>read more</a>