Pros for alternative/private loans

[crooked castle]

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Are there any good reasons to go for a private loan? other than the lower interest rate (albeit not a fixed rate), i cant seem to come up with other pros.

why would someone opt for private loans if Grad PLUS is safer at a fixed rate.

 

[crooked castle]

anyone..?

 

[SoulPower]

I guess the obvious answer is, they don't?

 

[Mike10]

I took a small private loan because I got such a good interest rate on it.. 4.5% Which is a lot better than the GradPlus of 7.9% However mine is not fixed (got a little worried when they were stalling on the debt ceiling decesion)

 

[Noble6]

Interest rate is the only pro I can think of.

I don't think private loans qualify for IBR.