The Tuition Answer loan is popular, practical, private student loan that gives an opportunity for creditworthy students or those with a creditworthy cosigner to borrow $1,500–$40,000 per year and used this amount to cover absolutely any qualified college-related expense.
If you want to bridge your education financing gap after Federal Student loans and traditional financial aid have been considered, a Tuition Answer loan is the best solution for you.
Eligibility
• Both the borrower and the student must be U.S. citizens or permanent residents and have Social Security numbers
• Applicants must be enrolled at an eligible college, trade, technical or graduate school and prove it with any document that shows the student's name, the name of the school, and enrollment period, such as a tuition bill or a printout of an online class schedule.
• The borrower must have good credit.
Characteristics
• You need not to complete any federal forms
• You may borrow $1,500–$40,000 per year for any qualified college-related expense.
• The interest on the Tuition Answer loan may be tax-deductible (for qualified taxpayers).
• No accompanying is required.
• There are no application deadlines.
• There is no prepayment penalty.
• You have a possibility to choose your repayment option. You may even postpone payment until after graduation or choose any other repayment options.
• Borrowers will not lose benefit for extended repayment.
• Only borrower receives the loan check, not the school.
• You may have 0.50 percentage point interest rate reduction benefit.
• Interest rate reduction is available only during periods of active repayment.
• If you want to get the benefit you must continue to pay on time.
Loan limit
You can get the minimum loan amount, which is $1,500 or maximum loan amount which is $40,000. The aggregate maximum available per borrower is $130,000.
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