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If you’re planning on taking out a private student loan, the ‘riskier’ interest rate option may be the better one

“Another trend that came from this private student loan data was the wide disparity between those who applied for private student loans and those who get approved” writes Mike Brown for businessinsider.com. There are now over 100 different private student loan lenders, while an estimated 1.4 million students use private loans each year.Of the $1.52 trillion in outstanding student loan debt held by this country, $102 billion of it, or 7.5%, derives from private student loans.
 
Source: businessinsider.com



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