When paying for college, sometimes scholarships and grants don't cover everything, and students have to use private loans.
Filling out the forms can be tedious,
"You need every piece of information that has been documented on your life," says Ohio Wesleyan student Scott St.Cyr.
But it's something more and more students are doing.
"I feel like it has to be done in order to be able to go to at least a private college nowadays," says student Ashley Donahue.
So if you are in the market for a private loan, there is a new website that can help: http://www.overturemarketplace.com/.
It’s called The Marketplace. It will allow you to make comparisons and shop for different lenders.
It will also allow you to find out how much they are going to charge you for a loan before you fill out the loan application.
"They will be able to compare lender A, B and C and their programs," says Lee Harrell, assistant vice president of Admission and Financial Aid for Ohio Wesleyan.
Harrell says his office uses several websites to aid students in finding a lender.
But there are some things to look for when using a website.
What are the interest rates and how do they compare? Do they vary based on having a co-signer or not? What are the repayment terms? Is repayment required right after graduation or sooner? Do they offer borrow benefits such as a co-signer release?
And check your college website for more information on private loans.
Harrell says even though websites such as the Marketplace are helpful, students should always apply for federal student loans before private loans because there are better benefits and lower rates with federal loans.
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