Are you interested in obtaining a Private High School Loan? Many parents are finding that it is in their children’s best interest to have them attend a private high school in order to provide a solid foundation and to prepare their student children for the highly challenging demands of college.
Due to several factors with the public educational system such as Federal budget cuts, lack of qualified teachers, and an overall lower quality education, the education provided by public schools has been on a steady decline for several decades.
Interested in applying for a Private High School Loan?
Private High School Loans are not the only types of private loans available. Some of the other private loan instruments that are available are:
• Private K-12 loans
• Private college student loans
• Private Grad student loans
• Private Professional student loans
Many private high schools offer in-school financing option to parents in order to support higher enrollment. However, it is important for parents that they are interested in financing their children’s education with Private High School Loans as well and to thoroughly research all of their options; there may be a more affordable source of financing than that which is provided by the high school. See also if taking on a part-time job on the side may help pay for your study and compare part-time pay to regular earnings here.
There are two types of Private High School Loans available:
• Fixed Rate Private High School Loans – The interest rate remains the same over the life of the loan.
• Variable Rate Private High School Loans – The interest rate will increase periodically over the life of the loan.
Many schools that offer Private High School Loans, also require a loan origination fee which is typically between 5% to 6 %. The origination fee is usually deducted from the loan disbursement. Short-term fixed-rate private school loans usually do not include an origination fee; instead, a higher interest rate percentage is used, for example, 1% at ten years, or 2% at five years.
It is important to note that Private High School Loans are not guaranteed by the Federal government or the Department of Education. Parents who are interested in obtaining a Private High School Loan for their children’s education must pass a credit check. For those parents who are ineligible to receive the loan, there may still be an option to receive the loan if an endorser cosigns the loan.
Student Loan Debt Reduction
Though taking out a student loan, or a private high school loan, may be a great option at times, some caution is at place. Student loan debt reduction became a hot topic over the last years along with other financial difficulties such as mortgage scandals, sub-prime lending, and the continually rising national and personal debt situation in America.
When they’re faced with rough economic conditions, debtors tend to look for ways to reduce their debt obligation position with more fervor than before. In the same way, students with outstanding loans will be looking for ways to reduce their debt in order to reduce their monthly repayment amount.
Interested in student loan debt reduction?
There are several ways to reduce your student loan repayment obligations. Options to reduce your student loan debt position include:
• Consolidate your student loans
• Forbearance options
• Refinance your student loans
• Loan forgiveness programs for teachers
• Armed service loan forgiveness initiatives
According to the National Center for Education Statistics, almost 66 percent of all students are leaving college with student debt. To some extent, these ever-soaring college loan numbers are caused by skyrocketing tuition costs across America, which were increased by often double the inflation rate over recent years.