private loans
Non-governmental debt financing
Private loans are funds borrowed from non-government sources—typically banks, credit unions, or online lenders—rather than through federal student loan programs.
The term appears most often in education financing, where private loans fill gaps after federal aid: She took out private loans to cover the rest of tuition.
Unlike federal loans, private loans usually require credit checks, may have variable interest rates, and offer fewer repayment protections.
- personalRelating to one's self
- borrowingTemporary taking of another's
- interestAttention, stake, or fee
- interest rateCost of borrowing money
- variable rateAmount that fluctuates
lender · debt · debt trap · repayment · collateral · cosigner · credit · credit score · unsecured · installment · grace period · balloon payment · consolidation · principal · APR · bank · finance · default
- federal loansfederal aid, FAFSA, federal grants, Pell Grant
private loansfederal loans
Government-issued borrowed funds
government loans · government-backed loans · federal funding · FHA loans · government grants
private loansgrants
Awarded funds for purposes
scholarships · fellowships · financial aid · bursaries · stipends
private, loans, privately, privatize, privatization, privateer, privacy, privation, deprive