Private Student Loan Volume
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Private student loan volume is growing much more rapidly than federal student loan volume (e.g., 25% per year versus 8% per year). If current trends continue, annual private education loan volume will surpass federal student loan volume within a decade. Accordingly, it is important that students have tools they can use to compare different private student loans.

This page provides a basic comparison chart that highlights the key characteristics of the major private education loans. There is a separate list of private consolidation loans that can be used to consolidate private education loans.

As a general rule, students should only consider obtaining a private education loan if they have maxed out the Federal Stafford Loan. They should also file the Free Application for Federal Student Aid (FAFSA), which may qualify them for grants, work-study and other forms of student aid. Undergraduate students should also compare costs with the Federal PLUS Loan, as the PLUS loan is usually much less expensive and has better repayment terms.