Suppose you need a student loan and you don't want to be hindered by the restrictions and timeline of federal loans. Look into student bank loans.
Some of the advantages of student bank loans:
* It's usually a faster approval time.
* You don't have to fill out a FAFSA (Free Application For Federal Student Aid).
* You can borrow a good bit more money. (This is especially good if you're shooting for an expensive private institution.)
Student bank loan approval is based on your personal credit score and history as well as your ability to pay it off ... the better your rating, the better interest rate you get. Don't get scared, the loan rate will be comparable to a federal student loan and not like a credit card rate.
So, if your responsible and are considered a low risk, getting a student bank loan can save you the red tape surrounding federal loans.
Here's a couple of links for student bank loans:
Wachovia
Bank of America
