Pros for alternative/private loans

Started by crooked castle
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crooked castle

crooked castle

Full Member
10+ Year Member
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.
 
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)
 
Interest rate is the only pro I can think of.

I don't think private loans qualify for IBR.
 
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