Private Loans Online

A Private Loan May Be Your Best Deal

Finding private loans online may be the way to go if you need to borrow money for college.

We've been watching a really interesting company called "My Rich Uncle". They specialize in student loans and say they have a unique approach to student lending.

MyRichUncle.com is able to offer Federal loans at significantly cheaper rates: 1% less for Stafford and 1.75% less for PLUS loans.

MyRichUncle.com claims they are the first in the private student loan industry to offer college students an interest rate based on credit score, credit history and grade point average, test scores and program of study. Something they call student characteristics.

That's freakin' good news for students! The harder you work, the better your loan rates, and the higher dollar amount you can get. That seems more than fair to me. Thanks Unc.

I smell a wave of the future here. Keep your grades up, guys. It pays.