What are the general underwriting guidelines for private student loans?

Question

I know that there are some general things like debt to income ratio and credit rating evaluation. Does anyone know more specifically what type of formula is used? I know each lender has their own, but it would be nice to have some type of guideline for planning purposes.

Answer 1

The best way to plan for your college education is to do tons of research first. Yes, lender requirements vary and that's why your question cannot be sufficiently answered in this forum. You have to contact these lenders and ask the questions. Here's a website that can help.

http://www.schools2colleges.com/

Answer 2

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Answer 3

Student loans are available with a wide range of lenders. Many students are finding themselves tough while going for a higher education. The flagrant cost of the higher education is one of main factors that are impeding the chances of your higher education. Since, education is the sole and one of the important<!--tools for your personal development; it can not be ignored-all.To help you paying efficiently the huge cost of the higher education, now, student loans have been made into provision. You can avail these loans to meet the cost of your tuition fees as well as paying off other bills related to your education. You may be helped from the government agencies as well as from private players.

http://best-loans.awardspace.com/student...

From among the private lenders, the online lenders are those one that are known for the simple and fast processing. You can contact a number of such lenders online with their different loan quotes. An online method helps you negotiate for the best deal out of the available-->options and also make your approval faster. Students can obtain the education loans either with secured or unsecured form. Secured loans require pledging of an asset from the borrowers. Whereas, unsecured form has nothing such obligation. The secured form has a lower interest rate, whereas, with the unsecured one, it is somewhat higher