Prior to considering applying for a private student loan, we encourage you to apply for Federal Student Financial Aid through the FAFSA (Free Application for Federal Student Aid).<\/p>\n
You may be eligible for federal financial aid including grants, work study and federal loans that may have more favorable terms. Federal loans have terms that may allow for loan forgiveness, deferment and forbearance; as well as flexible repayment options. To apply for federal student aid, please complete the FAFSA.<\/i><\/a><\/p>\n Private Loans are education loans provided by banks, credit unions or state-funded student loan programs. There are federal student loan programs that may offer more favorable terms and conditions than private loan programs. Private loans should only be considered as a borrowing option after all other financing options have been exhausted and additional education resources are still required.<\/p>\n Eligibility criteria, loan limits, interest rates and repayment terms will vary from one program and lender to the next. The approval of private loans is based on the credit worthiness of the borrower and\/or co-signer and provisions of each loan program. Interest rates will vary depending on your credit score and\/or the credit score of your co-signer (if a co-signer is required). We encourage you to extensively research your private loan lending options to identify the lender whose terms best meet your borrowing needs.<\/p>\n The Truth-In-Lending Act (TILA) requires three consumer disclosures at specific times during the application process, an Applicant Self-Certification form which you will need to sign and a three day delay in disbursement of your loan funds. This is to ensure borrowers are properly informed regarding the terms and conditions of their private loan. Due to the number of steps involved in the private loan application process, applicants should allow a minimum of three weeks for processing. As a result of the extent of loan processing conducted outside the College, NTC is not able to ensure when any individual private loan funds would become available.<\/p>\n We are providing information on all lenders we have certified private loans for over the last three years. NTC does not endorse any one lender, nor does it or its employees receive any compensation or benefits from any lender. Students are not limited to those on our lender list and have the right to choose any lender offering a private education loan program. Application processing will not be delayed unnecessarily if you choose a lender not presented. Our lender list is updated annually in June.<\/p>\n FASTChoice<\/i><\/a> is an online comparison tool that helps you determine the loan that is right for you by providing detailed information for various loans, as well as the terms and benefits offered by different lenders. Through FASTChoice<\/i><\/a>, you will be able to link directly to the lender of your choice and begin the application process.<\/p>\nPrivate Educational Loans<\/h2>\n
Truth-In-Lending Act<\/h3>\n
Choosing a Lender<\/h3>\n