Private Student Loan Comparison
Private Student Loans help cover the difference between your total cost of education and other financial aid you have received. Loan funds can be used to cover educational expenses such as tuition, books, room and board, school fees, student computers, supplies and loan fees.
With the Direct to Student Loan, loan funds are disbursed in the form of a check made co-payable to the borrower and to the co-signer. The School Certified Loan is disbursed to the school's financial aid office. Compare the two private student loan options below.
| Direct to Student Loan | School Certified Loan | |
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| Funds sent straight to the applicant(s) [a] |
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Funds are disbursed to
the school |
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| No FAFSA required |
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| Requires school certification |
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| Competitive rates and fees* |
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Preliminary approval in as little as 15 minutes |
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Defer all payments until 12 months after you graduate [b] |
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| 0.50% interest rate reduction for automatic payments [c] |
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| 0.50% interest rate reduction for on-time payments [c] |
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| Take up to 25 years to repay [d] |
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Co-signer release for
qualified applicants [c] |
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866-930-3964
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866-930-3963
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*The interest rates and loan fees associated with the Student Loan Network Direct to Student Loan are generally higher than the interest rates and loan fees associated with the Student Loan Network School Certified Student Loan. Interest on the Direct to Student Loan is capitalized quarterly while interest on the School Certified Student Loan capitalizes only once at repayment.
[a] The Direct to Student Loan does not require school certification and the proceeds are disbursed in the form of a check co-payable to the borrower and cosigner (if applicable), mailed directly to the applicant with the stronger credit profile.
[b] The deferment grace period is defined as 12 months from graduation or 6 months after a student drops below half-time enrollment. For the Student Loan Network Direct to Student Loan, repayment will begin no later than 60 months (5 years) after the loan is disbursed.
[c] At all times the discount rates and co-signer release terms are subject to change. The on-time benefit must be earned. Co-signer release is contingent upon the borrower's credit profile which will be reviewed by the Lender prior to release. Loan delinquency, default, or the use of forbearance may result in the revocation of all borrower benefits.
[d] The repayment period may be less than the 25-year maximum allowed depending on the borrower's indebtedness at the beginning of his or her repayment period and the requirement that the borrower either satisfies a $50 minimum monthly payment amount (level schedule) or the terms of a graduated repayment schedule.
[a] The Direct to Student Loan does not require school certification and the proceeds are disbursed in the form of a check co-payable to the borrower and cosigner (if applicable), mailed directly to the applicant with the stronger credit profile.
[b] The deferment grace period is defined as 12 months from graduation or 6 months after a student drops below half-time enrollment. For the Student Loan Network Direct to Student Loan, repayment will begin no later than 60 months (5 years) after the loan is disbursed.
[c] At all times the discount rates and co-signer release terms are subject to change. The on-time benefit must be earned. Co-signer release is contingent upon the borrower's credit profile which will be reviewed by the Lender prior to release. Loan delinquency, default, or the use of forbearance may result in the revocation of all borrower benefits.
[d] The repayment period may be less than the 25-year maximum allowed depending on the borrower's indebtedness at the beginning of his or her repayment period and the requirement that the borrower either satisfies a $50 minimum monthly payment amount (level schedule) or the terms of a graduated repayment schedule.
