The student loan is increasing year after year. More and more, the incentive to get an education is highly recommended in order for an individual to have a stable position and to be financially sound. The student loan market has also bloomed, therefore, it encouraged numerous private lenders to compete for business with the government. Similar to the mortgage market, expert loan agents are making and educating themselves about student loan markets. They too understand that the cost of educations brings increase in student loan, which ultimately become a profit in their pockets. Although the government had invested in its people with scholarship, grant, and loans, it is limited. Unlike the private student loan, the amount per student per year is regulated since their interest rate is pretty much one of the lowest in the market. With it’s fairly easy to access and free application online, the Federal Student Aid (FAFSA) still has drawbacks in its process, which ultimately discourage many students and parents to apply.
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In the other hand, private lenders had marketed their service through mails, emails, and paid colleges off to be the preferred student loan lender, which points out the easily process to get a loan with higher set or no set amount taken
In the other hand, private lenders had marketed their service through mails, emails, and paid colleges off to be the preferred student loan lender, which points out the easily process to get a loan with higher set or no set amount taken