Graduate Leverage Education Loans: Company Offers Federal and Private College Student Loans

Private student loans are quickly becoming a primary method of funding for college students, and with an increase in demand has come both an increase in offerings from various private lenders and an increase in private lending companies.

Graduate Leverage, begun in 2003, is one such private education lending company, and offers a number of federal and private options. This article will explain the different Graduate Leverage student loans available and offer advice for those shopping around for private student loans.

Look First to Federal Loans Offered by Private Lenders

As a general rule, students should look to take out private education loans only after they have exhausted their federal loan options, such as Stafford Loans and PLUS Loans. This is because federal loans, backed by the U.S. government, often have lower interest rates and fees.

Many times, federal loans are offered by the same banks and financial institutions which offer private education loans. These federal loans are available through the Federal Family Education Loan Program (FFEL).

Graduate Leverage is one of many financial institutions which offers both private student loans as well as federal Stafford Loans and Parent PLUS Loans, the terms of which are established by the FFEL.

Advice on Finding the Best Private Student Loans

Students shopping around for private education loans need to look closely at the interest rates and fees being offered, as loans advertised with low interest rates but high fees can sometimes be more expensive than loans with higher interest rates.

As a general rule, loans with fees of around 4% equal an additional percentage increase in the interest rate in terms of a loan’s overall cost.

The best deals on private student loans “will have interest rates of LIBOR + 2.0% or PRIME – 0.50% with no fees.” Such loans compare favorably with federal loans, and are available for students who either have good credit or are able to secure a cosigner with good credit.

Graduate Leverage Student Loans for Undergraduates

Graduate Leverage offers school-certified private education loans for undergraduates enrolled in a participating degree program. Below are the terms and rates available:

  • Depending on a student’s credit, available loans have interest rates from LIBOR + 1.75% to LIBOR + 10%;
  • Fees can range from 0 to 6%;
  • A .25% interest rate reduction is available for those who have payments automatically deducted from a bank account;
  • Payments may be made up to 20 years after the loan is taken out, depending on the balance.

For those with solid credit, these loans offer good interest rates coupled with low fees, as well as interest rate reductions for automatic withdrawal. However, for those with less-than-stellar credit, both the rates and fees can get fairly high. The maximum amount available is $25,000.

Please note that, to qualify, students must be enrolled in a participating school, meet the school’s academic requirements, and be a U.S. citizen or permanent resident.

Graduate Leverage Student Loans for Graduate Student

Graduate Leverage offers school-certified private education loans for undergraduates enrolled in a participating degree program. Below are the terms and rates available:

  • Depending on a student’s credit, available loans have interest rates from LIBOR + 1.75% to LIBOR + 10%;
  • Fees can range from 0 to 6%;
  • A .25% interest rate reduction is available for those who have payments automatically deducted from a bank account;
  • Payments may be made up to 20 years after the loan is taken out, depending on the balance.

For those with good credit, these loans offer good interest rates coupled with low fees, as well as interest rate reductions for automatic withdrawal. However, for those with less-than-perfect credit, both the fees and rates can get fairly high. The maximum amount available is $25,000.

Please note that, to qualify, students must be enrolled in a participating school, meet the school’s academic requirements, and be a U.S. citizen or permanent resident.

Graduate Leverage Student Loans – Medical Residency & Relocation

Graduate Leverage offers this option for students enrolled in an approved medical program. Below are the terms and rates available:

  • Depending on a student’s credit, available loans have interest rates from LIBOR + 5% to LIBOR + 8%;
  • Fees can range from 0 to 6%;
  • A 1% interest reduction is available at repayment;
  • A .25% interest rate reduction is available for those who have payments automatically deducted from a bank account;
  • Payments may be made up to 15 years after the loan is taken out, depending on the balance.

For those with good credit, these loans offer moderately good interest rates coupled with low fees, as well as interest rate reductions for automatic withdraw and consistent payments. However, for those with less-than-perfect credit, both the rates and fees can get fairly high. The maximum amount available is $20,000.

Please note that, to qualify, students must be enrolled in a participating medical school, meet the school’s academic requirements, and be a U.S. citizen or permanent resident.

Private Student Loan Consolidation

The Graduate Leverage student loans detailed in this article may be consolidated with other private loans held by a borrower. Doing so can extend payment plans and, in some cases, reduce overall interest rates for students with rather expensive loans.