Toolbox:
Financial Aid

86% of students on MyMajors are looking for Financial Aid while pursuing post-secondary options. MyMajors has teamed up with one of the best financial resources on the internet, SimpleTuition. Research about the FAFSA, find Student Loans, use Cost Calculators and estimate the investment for your future.

Need a private student loan? Compare your student loan options all in one place. SimpleTuition

Understanding private
student loans

Private student loans (sometimes called "alternative loans") are used expressly for paying for college costs such as tuition, room & board, and other expenses.

  • Private student loans should supplement federal or government student loans. Remember to always maximize your federal financial aid before seeking private loans.
  • Private student loans are taken out from banks, lending companies or other private entities, in the student's name, usually with a co-signer.

What to look for in a private
student loan

Use the comparison tools here to consider all of the costs of a private student loan, including fees and rates.

Examine all of the attributes of each loan,
such as:

  • the annual percentage rate (APR)
  • the total cost of the loan
  • the monthly payment
  • the loan's borrower rewards
  • student loan deferment options

How to use the student loan
comparison tool

Save time and money by comparing multiple loan options from a variety of leading lenders. SimpleTuition's student loan comparison helps students and families understand the financial aid and borrowing process, including when to use private student loans. Simply enter the amount you need to borrow and a little bit about yourself, and click the "Find student loans" button to see a customized list of private loan options.

See your customized private student loan options