About Student Loans
The rising cost of college tuition has made higher education unaffordable for many families and individuals. In order to help as many students as possible, the government and a number of other sponsors award billions of dollars in financial aid ever year, including scholarships, grants, work-study, student loans and more. Student loans are preferred over other types of aid because they generally allow borrowers to obtain enough funds to cover all of their college expenses college, including the cost of tuition, books, other study materials and living expenses.
South Carolina Student Loans
Residents of the state of South Carolina may access a number of financing options for college. South Carolina student loans are available through federal and state governments, as well as through a number of private lenders. Most students prefer government-sponsored loans because they usually come with low, fixed rates of interest, meaning that regardless of the economy, the amount a borrower owes remains the same. Additionally, repayment of government-backed loans does not start until after graduation and in cases where a college graduate is unable to find work, payment can be deferred.
How to Apply for Loans
Application procedures for each South Carolina student loan may vary, so it is advisable to check with the financial aid office at the college you plan to attend for further information. In most cases, you will be required to fill out the Free Application for Federal Student Aid (FAFSA), which is available online at fafsa.ed.gov.
In many cases, a government-sponsored student loan may not sufficiently cover all of your education- related expenses. With this in mind, you can opt for private student loans, which have flexible borrowing limits and are processed almost instantly. Use the student loan comparison tool on our website to learn more about the available options. This free comparison tool allows you to compare loans based on interest rates, borrowing limits, repayment terms and more. This information will help you make an informed decision for your future.