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There are numerous private student loans available and student eligibility varies from lender to lender. Although interest will accrue on all loans, repayment of interest and principal may usually be postponed until after the student leaves school. However, loan terms vary and change annually, so borrowers should research the programs carefully. Borrowers should consider interest rates, origination fees, repayment fees, length of repayment, and deferment options.
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The private loan programs most commonly used at UNC-Chapel Hill include: |
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Because private student loans are more costly than federal or university loans, students are encouraged to minimize their student budgets and avoid borrowing the maximum loan amounts available. |
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