Whois & Analysis for earnest.com

A private student loan is a financing option for higher education in the United States that can supplement, but should not replace, federal loans, such as Stafford loans, Perkins loans and PLUS loans.

Private loans, which are heavily advertised, do not have the forbearance and deferral options available with federal loans (which are never advertised).

In contrast with federal subsidized loans, interest accrues while the student is in college, although repayment may not begin until after graduation.

While unsubsidized federal loans do have interest charges while the student is studying, private student loan rates are higher, sometimes much higher.

Fees vary greatly, and legal cases have reported fees reaching 50% of amount of the loan.

Although traditionally unsecured, these loans are increasingly secured, so that the borrower must offer collateral or a third-party guarantee of repayment.

Refinancing may refer to the replacement of an existing debt obligation with another debt obligation under different terms.

The terms and conditions of refinancing may vary widely by country, province, or state, based on several economic factors such as, inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower's credit worthiness, and credit rating of a nation.

In many industrialized nations, a common form of refinancing is for a place of primary residency mortgage.

In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment.

Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e. the amount borrowed).

It is distinct from a fee which the borrower may pay the lender or some third party.

A financial market is a market in which people trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand.

Securities include stocks and bonds, and commodities include precious metals or agricultural products.