Quincy, MASS — Do you have an extra $1,700 to spare? That’s the question some colleges are asking students, parents, and families with projected 5-9% tuition increases in 2009, and more families facing tighter budgets will need to investigate private student loans for college just to keep up.

“Private student loans have a more important role to fill in the financial aid process than ever before,” said Jonathan Rudy, Director of Lending at Student Loan Network, a Boston-based student loan company. “Families should still explore all scholarship and Federal aid options before considering private student loans, but with tuition increases coming in between 5-9% just for next year and 4-year private colleges averaging $25,143 per year this year, private student loans may be the only way for some students to keep up with the cost of college.”¹

Student Loan Network recently launched a new website, PrivateStudentLoans.com, dedicated to helping potential borrowers and parents understand the different types of private student loans and how they compare to other funding options. “PrivateStudentLoans.com is our way of offering the latest information and fair comparisons of the different funding options available for families to make informed decisions,” said Rudy.

In addition to maintaining access to private student loans throughout these challenging times, Student Loan Network offers private loans aimed to increase affordability for families by providing a 2% balance reduction at graduation. Students will need a cosigner to apply for the loan; to ensure that students’ best interests are protected, school approval of the loan will be required so that students do not over borrow.

For more information and to apply for the loan, visit: http://www.privatestudentloans.com

Contact: Jonathan Rudy at 617-328-1565

###

Return to Edvisors/ Student Loan Network News