private loan
Non-governmental debt arrangement
A private loan is money borrowed from a non-governmental source—typically a bank, credit union, or online lender rather than a federal student loan program.
The term appears most often in education financing, where private loans fill gaps after federal aid: She took out a private loan to cover her remaining tuition.
Private loans generally have variable interest rates and fewer borrower protections than government-backed alternatives.
- personalRelating to one's self
- borrowerOne who takes temporarily
- lenderOne who loans money
- interestAttention, stake, or fee
- interest rateCost of borrowing money
debt · debt trap · credit · credit score · repayment · monthly payment · collateral · unsecured · hard money · installment · cosigner · principal · APR · terms · fine print · signature · bank · finance
- loanslend, borrow, borrower, lender, microloan
- student aidfinancial aid, scholarship, grant, Pell Grant, FAFSA
- federal loansfederal aid, FAFSA, federal grants, Pell Grant
private loansubsidized loan
Debt with external help
grant · scholarship · fellowship · subsidy · bursary
private, loan, privately, privation, privy, privacy, privatize, privatization, privilege