Top 10 Things to Consider When Evaluating a Lender
Students and cosigner must meet the lender’s established minimum credit criteria. Lenders may consider a number of factors when determining loan eligibility such as credit-worthiness and debt-to-income ratio. Students and cosigners are encouraged to obtain a free copy of their credit report annually from AnnualCreditReport.com.
Satisfactory Academic Progress (SAP)
Some private lenders require that students meet the Satisfactory Academic Progress (SAP) Standards to be eligible for a private loan. The purpose of SAP is to ensure academic success and graduation. Students who do not meet the SAP standards may not be eligible for their private loan. To learn more, review our SAP Policies: