Until recent times, students looking to apply for the best loans to finance their education found their hands tied when it came to selecting the best lenders. Once these students exhausted their eligibility for federal loans, they were left with no choice but to borrow their Private loans from traditional lenders such as large financial institutions. These private student loans often came at a higher price tag than federal loans, with higher and less predictable interest rates, with less forgiving repayment options, and with lots of fine print.
Today, students do not need to rely on these types of financial institutions for their private student loans. The pool of lenders offering Private student loans has increased with the rise of peer-to-peer (p2p) lending. Under the p2p platform, almost anyone can register as a lender -- private investors, philanthropic groups, family members and friends, and yes, even those aforementioned financial institutions,. To learn more about People Capital’s p2p platform, please click here.