Overview

How can Student Loan Corp get me the best rates and terms on my student loan?

Student Loan Corp helps you secure the best offer on private loans to pay for college. We allow you to easily submit your information to multiple lenders and find eligible students corporate sponsors through our Sponsor+ student loan program. Completing your profile only takes 3 minutes, and it provides us with all of the information needed to request offers from our partner lenders and corporate sponsors. After we find you a sponsor, Student Loan Corp will submit your profile to multiple lenders with a loan guarantee from the sponsor. You will then receive offers on rates from multiple lenders, as you’ll have a sponsor guaranteeing your loan, the rates and terms you’ll receive will be much better than what you’d get applying on your own. The information you receive will allow you to easily compare offers based on a number of important criteria including total repayment amount, APR, repayment options, and monthly payment. If you receive an offer that you would like to proceed with, you then complete the final steps of the process directly with the lender and the sponsor.

How do I know if I am eligible for Student Loan Corp Sponsor+?

You must be currently enrolled in an American University that’s covered by Title IV program at least half-time. If you are younger than 18 years of age, you must have a parent approving your application. At this time, borrowers currently enrolled in a degree or other educational program outside of the United States are not eligible to use our service. Our Sponsor+ program also takes into consideration grades, your overall attitude towards debt, spending, and your career prospects as a criterion when deciding eligibility.

Can I sign up with Student Loan Corp if I am an International Student?

You can, indeed. International students are eligible to use Student Loan Corp services and request sponsors and offers from our partner lenders. If you’re an international student enrolled in a graduate level or post-graduate level course, you do not need a cosigner and can start your application right away. We do suggest you secure a Individual Taxpayer Identification Number (ITIN) in cases where your credit history is brief.

What kinds of loans does Student Loan Corp service offer for students?

Student Loan Corp allows students to request offers and compare options on private student loans from multiple lenders. We ourselves are not a lender, and we are not in any way involved in the federal student aid process.

What is the difference between federal student loans and private student loans?

Federal student loans are loans that follow prescribed guidelines that are decided and set up by the U.S. Department of Education, and typically Federal Student Loans have lower interest rates and more generous repayment options than private loans. Eligibility for federal loans is determined by completing the Free Application for Federal Student Assistance (FAFSA). However, federal loans have borrowing limits, which may not allow a student to borrow enough to cover the entire cost of education. When applying via Sponsor+ program, Private Student Loans can be incredibly attractive, as the rates on private student loans with a corporate sponsor tend to be incredibly low, and the repayment terms also become comparable to federal student loan level. To learn more about Federal Student Loans you may visit: https://studentaid.ed.gov/

What is the maximum I can borrow with a sponsor?

With a Sponsor guaranteeing your private student loan, you will be able to borrow up to 100% of your schools estimated cost of attendance but not more.

Applying for and accepting offers

How do I apply for a student loan?

You are able to apply for a Sponsor+ student loan with multiple lenders via Student Loan Corp. Online portal. By submitting an application, which you can do within 3 minutes you will be able to get an answer on the sponsor+ eligibility and receive student loan offers from multiple vendors within 24 hours.

What do I need to get a Sponsor+?

You are eligible for a SLC Sponsor+ loan if you’re enrolled in an American Title IV University with an estimated cost of attendance that is higher than $15,000. And can prove a reasonably strong academic history, with a healthy attitude toward borrowing and spending.

Do I have to accept an offer if I receive one?

Not at all. You are under no obligation to accept an offer you receive via Student Loan Corp. In fact we highly recommend that you seek financial advice and evaluate any offer to ensure that you make a decision that’s right for your own individual circumstances. Perhaps your school’s financial aid offers or your parents can help make the right decision.

Do I have to accept an offer if I receive one?

Not at all. You are under no obligation to accept an offer you receive via Student Loan Corp. In fact we we highly recommend that you seek financial advice and evaluate any offer to ensure that you make a decision that’s right for your own individual circumstances. Perhaps your schools financial aid offers or your parents can help make the right decision.

How will I receive the funds from my student loan disbursement?

In usual cases, loans are disbursed directly to your school’s financial aid office and are used to pay education-related expenses. This means that the loan will cover your tuition and fees and then, what is left, it will be disbursed to you (as a refund) to cover any other outstanding educational expenses. Depending on the type of loan offers from our lending partners, after tuition and school fees are covered, you can use a private student loan to pay for your expenses such as room and board, books, computer equipment (that’s approved by the school for the course), transportation and school supplies. Important note: Lenders never process loan payouts directly to students.

What repayment terms can I expect on my Sponsor+ student loan?

With Sponsor+ loan lenders usually offer the lowest interest rates and the best repayment terms possible, owing to the inherently low risk they deem you as. You’re likely to be offered loans that can be deferred until after graduation, or you can choose to pay as you go.

I received offers with interest rate ranges from a lender. What do I do next?

Congratulations! The next step is to carefully review each lender’s offer and terms, some lenders may be able to offer even better terms and lower repayment rates based on your decisions, and how strong your sponsor’s credit guarantee is. The lenders will generally indicate to you if any of those options are available, but feel free to contact them directly if you have questions.

Once you get a general idea of what the offers and terms are, you can pick a lender offering the best terms, complete your application with your Sponsor+ and then wait for the lender to verify with your school and have your school certify the loan application and total loan amount. That’s it. This process usually takes as little as 7 days, but depending on when you’re applying and what type of school you’re enrolled in, there are extreme situations where this can take as long as 45 days to complete.

Credit considerations

Does Student Loan Corp pull my credit report file?

Student Loan Corp will not and does not do any “pull” your credit at any time as part of our service of helping you compare offers for a Sponsor+ student loan. However, a lender may choose to pull your credit to assess your eligibility for an offer, depending on both its terms of use and eligibility criteria. This may be reflected as an “inquiry” on your credit report. For Sponsor+ program, Student Loan Corp will use your information to validate your identity and information, however, this will not result in any ‘pull’ or record on your credit file.At times, as part of our student loan refinancing service, Student Loan Corp may conduct soft credit inquiries for borrowers looking to see the rates they could prequalify for with our various partner lenders.

How can multiple inquiries affect my credit score?

As reported by FICO, the provider of the most commonly used credit scores in the world, credit inquiries for the same type of financial service or product over a typical shopping period (less than 30 days) as “rate shopping” and counts them as a single inquiry against your credit score. Student Loan Corp submits your offer request to its partner lenders for the same financial product over a period of a few hours, and therefore meets the “rate shopping” criteria and should have less of an impact on your credit score than searching beyond 30 days.

How strong of a credit score do I or my parents need?

Our lending criteria are not based on credit scores and have more to do with a students attitude and approach to debt and future prospects. Our aim is to help students with potential do better in life and help them avoid debt traps. With a Sponsor+ program, lenders will evaluate you based on the strength of your sponsor’s loan guarantee. If you have limited or poor credit history, the Sponsor+ program can be a huge advantage for you.

About Student Loan Corp

What is Student Loan Corp?

Student Loan Corp is a highly regarded student loan guarantee company providing college, graduate and undergraduate student loan guarantees to eligible students. Student Loan Corp guarantee and Sponsor+ programs allow students to secure low-interest payments and better repayment terms on their private student loans. Apply for a loan or register for the Student Loan Corp sponsor today! To learn more about Student Loan Corp visit our about us overview.

What is Student Loan Corp’s role in the private student loan market?

Student Loan Corp makes the process of finding and securing a good deal on your private student loan easier, simpler and more transparent. We allow current students to submit their information to multiple lenders, and then compare the offers they receive side-by-side. We also provide clients with sponsors and loan guarantees which allow students to secure the best terms on their loan regardless of their credit score or their parent’s credit scores.

Overview

How can Student Loan Corp help me refinance my student loans?

Student Loan Corp helps you find the best offer to refinance your student loans. By completing our brief one-page form and we are able to analyze your profile based on factors such as your hiring potential and your career prospects, if eligible for a Sponsor+ we then arrange a sponsor and a loan guarantee for you which will instantly allow you to apply for loan refinancing with primary lenders but do so on much better terms, you can secure rates from multiple lenders to compare side-by-side based on a number of important criteria, including total repayment amount, APR, and monthly payment and pick the best offer.

With a Sponsor+ guarantee your profile will be much more solid in the eyes of lenders and as a result, you’ll be able to get the lowest monthly repayment rate and the absolute best repayment terms on your Student Loan Refinancing. From there, you then complete the final step of the refinancing process by verifying your information directly with the lender and completing your application.

How do I know if I am eligible?

To apply for Sponsor+ Refinancing you must be a US Citizen or permanent resident, aged 23 or over, with more than $35,000 of student loan debt. At this time, borrowers currently enrolled in a degree or other educational program are not eligible to use our service.

Can I use Student Loan Corp to refinance my student loans if I didn't graduate?

You can refinance your student loan with a Sponsor+ if you haven’t graduated, borrowers with eligible student loans who have yet to graduate but can prove employment can apply for the Sponsor+ program. When applying please be sure to include as much information about your education history and career prospects.

Can I use Student Loan Corp if I live outside of the United States?

At present, Sponsor+ Student Loan Refinancing is only available to US Citizens, permanent residents and international students who are holders of US work permits and can prove that they have paid taxes to the IRS within the last 2 years. If you are a US Citizen or permanent resident temporarily living abroad due to work or travel but maintain a permanent address in the United States, please provide your US address when you apply.

What types of loans can I refinance? Federal and private Loans? Parent PLUS loans?

With the Sponsor+ Program, clients are able to refinance both federal and private loans used to finance an education, including Parent PLUS loans, provided that you are the primary borrower on the loans you are seeking to refinance. If you are refinancing federal loans, do take the time to consult with our experts to find out what federal benefits you’ll be losing by transferring to private lenders when you refinance.

Finding the best rate

Is it crucial to have a cosigner with me on my application?

No! When applying for a Sponsor+ Student Loan refinancing you do not need to have a cosigner or a long credit history, Student Loan Corp uses other criteria when deciding on credit risk of clients, mostly having to do with academic track record and employment prospects.

Should I include my spouse or partner’s income?

Any information you provide (including your income and housing expenses) should ideally be pertinent only to you as an individual, even if you are married. For example, for the housing payment, if you pay half of the monthly bill, only include your share, not the total amount you and your husband or wife pay.

What if I can’t find my school?

Student Loan Corp Sponsor+ Refinancing only accepts students who have attended a Title IV eligible school. If you’re unable to find your school but are certain it’s a Title IV eligible school then you may mention this to your refinance advising expert.

Am I guaranteed to receive an offer from a lender after I have been prequalified?

The purpose of prequalification is to give you an idea of whether refinancing your student loans is the right decision for you, and to provide you with an estimate of the rates you can expect to receive from our partner lenders. Based on your application to Student Loan Corp we’ll perform in-depth analysis using proprietary metrics. However, there is no guarantee that the rates you prequalify for are the rates you will ultimately receive, as the lenders will need more information about your personal and financial background in order to extend an offer and based on this the rates are subject to chance. Lenders may decide not to extend you credit if they determine that you no longer meet the criteria used to prequalify you, or based on any other applicable criteria related to creditworthiness that was not previously provided to Student Loan Corp. Lenders also reserve the right to change or withdraw prequalified rates at any time. However, with the Sponsor+ refinancing program students can be certain they’re securing the lowest prevailing rates on their student loan owing to the loan guarantees that are extended by Student Loan Corp on behalf of clients.

How long before a prequalified offer expires?

Prequalified rates furnished through Student Loan Corp Sponsor+ refinancing program are subject to change. The rates you receive are based on certain creditworthiness criteria provided by our partner lenders that you met at the time you requested prequalified rates. Those criteria and your ability to meet them may change on an ongoing basis, and lenders also reserve the right to change or withdraw prequalified rates at any time. However, Student Loan Corp works to ensure that clients are kept updated as much as feasibly possibly on rate changes and the factors that affect rates as they happen.

Receiving and accepting offers

Do I have to accept an offer if I receive one?

Once you complete your application for a refinancing Sponsor, your profile will undergo analysis and your identity will be verified. After this, Student Loan Corp will add the right Sponsor and apply with our partner lenders to get the best loan offers. At this point, you’ll know the best offers available to you. You have no obligation to accept the offer, however.

How do I accept an offer from a lender?

When you receive rates from Student Loan Corp partner lenders, you can pick the one that’s best for you based on the monthly payment and the repayment terms. You’ll complete the offer directly with the lender through their portal.

I went through your process and did not receive any offers, what should I do next?

The first step is to carefully review your loan experts response – some cases we may not be able to extend offers based on errors in your application, if you are sure your application is error free and that you meet our guidelines then feel free to get in touch with us about your applications lack of sponsors. However, due to the volumes we experience we will only be able to get in touch with you if there is a specific need for us to (i.e. we can help you remedy the situation).

Credit considerations

When and how is my credit history analyzed?

Student Loan Corp Cosigner+ refinancing does not use conventional credit history in deciding client eligibility. Our models are based on student performance in academics and their career prospects. Also, we take into consideration factors such as a clients attitude towards debt. Apply for a Student Loan Corp sponsor refinancing program will not affect your credit score as we do not perform a “pull” on your file. Only when you’ve decided on the lender and approved prequalified rates does the “pull” occur.

Can I still use Student Loan Corp if my credit is less than perfect?

Yes! Many of the sponsors and lenders we partner with will consider borrowers with less than perfect credit. Although we can’t guarantee that you will receive offers, having less than perfect credit does not prevent you from completing our initial questions and seeing if there are any sponsors and lenders whose loans you prequalify for.

About Student Loan Corp

What is Student Loan Corp?

Student Loan Corp is a highly regarded student loan guarantee company providing college, graduate and undergraduate student loan guarantees to eligible students. Student Loan Corp guarantee and Sponsor+ programs allow students to secure low-interest payments and better repayment terms on their private student loans. Apply for a student loan refinancing with a Student Loan Corp sponsor today! To learn more about Student Loan Corp visit our about us overview.

What is Student Loan Corp’s role in the private student loan market?

Student Loan Corp makes the process of finding and securing a good deal on your private student loan easier, simpler and more transparent. We allow current students to submit their information to multiple lenders, and then compare the offers they receive side-by-side. We also provide clients with sponsors and loan guarantees which allow students to secure the best terms on their loan regardless of their credit score or their parent’s credit scores.