Private Loans FAQ for Undergraduate and Graduate Students

If all of your federal aid can't meet your education finance needs, or you just need a little extra to make ends meet, a private loan may be the answer you're looking for. Private loans help you to finance additional expenses that you did not anticipate, such as computers, tutors, books, last-minute tuition hikes and transportation.

To help cover these types of expenses, one type of private loan is the Act Education loan, which is available to undergraduate and graduate students.


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What is an Act Education Loan?

Also called private education loans or alternative student loans, Act Education loans differ in many ways from traditional or government education loan programs:

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Why should I choose the Act Education Loan?

Do I need a co-signer?

It depends. Even if you meet the established credit guidelines below, it may be in your best interest to apply with a qualified co-signer. Benefits of applying with a credit-worthy co-signer may include the following:

Credit Guidelines and Recommendations

A credit-worthy applicant demonstrates a current ability to repay a loan. To be eligible, you must meet all of the criteria listed below:

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Related Reading

Source: Student Loan Network

News & Events

Financial Aid for Undergraduate & Graduate Students

Scholarships

There are 1,000s of scholarships offered to undergraduate students each year. Begin your custom-
ized scholarship search today!


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Stafford Loans

Stafford loans are the most common federal student loan available. They have low fees and simple payback terms.


apply for a stafford loan

PLUS Loans

PLUS loans are for parents of under-
graduate students enrolled at least half-time.


apply for a plus loan

Grad PLUS Loans

Grad PLUS Loans are designed for working students returning to school. Take the steps to start a new career.


apply for a grad plus loan
Private Loans

There are many types of private loans. Begin the application process for an ACT Education loan.


apply for private loans

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