You may find that you need to borrow money to pay for your college education. The lender and the terms of the student loan have an impact on you after graduation. Taking time to do up-front research, to compare student loan options, and to make smart borrowing decisions can save money and prevent future frustrations.
Below is useful information to help determine which loan is right for you.
*See FAFSA guidelines for what qualifies as “independent” status.
Private student loans are offered by banks or lending institutions to help students and parents bridge the gap between the cost of education and the amount of financial aid received. These are alternative supplemental loans that are NOT guaranteed by the federal government. Terms and conditions can vary according to specific lender guidelines.
Interest rate: Interest rates on private student loans are set by individual lenders based on each applicant’s credit rating. Private loan lenders can offer fixed or variable interest rates. A fixed interest rate means the rate never changes and your monthly payments will always be the same amount. Fixed rates are usually the best option since there are never any surprises when it comes to your payments. With a variable-rate loan, the interest rate is tied to the market and can fluctuate up or down. Variable rate loans have the potential to increase later – meaning your monthly payment can change and you might end up paying more in interest over the life of the loan.
How do I apply? We have compiled a list of lenders based upon their historical lending with our students and the quality of products and services they have provided to students and families. We have carefully considered our selections in order to provide you with the best possible list of suggested lenders. However, if you wish to use another lender that is not on this list, you have the right to do so. To view, compare, and apply for a private student loan, please click HERE, and you will be directed to ELM Select, which is our private loan lender and product comparison tool for students that is powered by ELM Resources.
At University of Valley Forge, we understand that student loans can be intimidating. That’s why we have partnered with Inceptia, a division of the National Student Loan Program, to provide you with free assistance on your student loan obligations to ensure you feel comfortable and can be successful in your loan repayment.
Inceptia may be calling to help you with next steps in your repayment journey. Their friendly counselors are there to help you every step of the way. While you are in your grace period, they might reach out to you to answer questions you may have on your repayment options. If you become delinquent on your loans, they may also contact you to help find a solution that works within your means.
The Inceptia counselors are there to help you with every step by staying in touch with you via phone calls, letters, and/or emails. They will not be collecting money from you. Inceptia’s nonprofit purpose is to help you find answers to your questions and solutions to your issues. We encourage you to visit Inceptia’s Student Loan Knowledge HQ website at HeroKnowl.org.
On behalf of the UVF – Financial Services Office, CONGRATULATIONS to the Class of 2023. Please download Inceptia’s Great Advice for Grads. There are some excellent tips for student loan repayment, personal finance, and career.
University of Valley Forge has teamed up with Inceptia to give you a leg up on financial education via their online program, Financial Avenue. With Financial Avenue, the idea is to provide you with smart resources to help demystify the world of personal finance. Trust us – getting a handle on your money doesn’t have to feel overwhelming or restrictive. It’s all about empowering yourself with smart basics, and planning from there.
With Inceptia’s money mascot, the Knowl, as your trusty guide, you will have access to ten online courses that take on big financial topics, including:
We get it, sometimes financial education can be pretty boring and it doesn’t always make a lot of sense if you don’t know how to put your knowledge into action. But, Financial Avenue keeps you on your toes with quizzes, videos, interactive tools, and customized action plans at the end of each course. With all these tools, we’ve made it pretty easy to know exactly what you can begin doing RIGHT NOW to put your financial knowledge to good use. After all, the Knowl says there’s no time like the present.
The Knowl is here to help you get Knowl-edgeable about money
Get started by setting up your private account at Financial Avenue. Once there, just click the “Login” link at the top of the page, click to sign up as a student and then provide your access code shown below. To create your account, you’ll need your school specific email address and a password of your choosing.
ACCESS CODE: patriots
Instructions for creating your student account are available in the Financial Avenue Student Guide.
Using your email address and password, you can return to your Financial Avenue account any time to review or finish courses, access tools and tips, and track your progress.
Follow the #Knowl
Also, the Knowl would appreciate it if you followed him @MoneyKnowl and #Knowl. He’ll be sure to make it worth your while by sharing tips, resources and strategies to help you become a Money Mastery Ninja.
Questions or Support Issues
Inceptia Customer Service