Private Student Loans
A college education is one of the best investments you can make, but borrowing money should still be done prudently. Wise borrowing of federal and private loans will enable you to pay the educational and living expenses necessary to accomplish your dream of becoming a college graduate.
Federal and State Aid First
You should utilize your maximum federal and state financial aid eligibility before borrowing a private student loan. Private student loans should not be your primary source of funding. The terms and conditions of federal grant and loan programs may be more favorable that those of private student loans. Mercy College will not certify a private student loan on your behalf until you have filed a FAFSA and applied for federal and state financial aid.
Some Questions to Consider Before Selecting a Private Loan
The following are some of the questions that should be considered as you research private loan options.
2015-2016 Private Loan Preferred Lender List
The Financial Aid Office has entered into a preferred lender arrangement (PLA) in order to better serve our students and families. Federal and state regulations require Mercy College to provide the following disclosures:
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