Custom Choice Student Loans

Figuring out how to pay for college is a daunting task. Private student loans are a great option, but with so many lenders to choose from, how do you know which one offers the best student loans for you?

We're going to give you a full review of Custom Choice private loans so that you can know if they are the right option for you when you apply for student loans.

CustomChoice Private Student Loans Break Down

CustomChoice is a great option for students who need flexibility with their financing. Unlike other private loan companies, CustomChoice lets you customize how you use your loans.

Need to pay for books? Your dorm room? Tuition? CustomChoice can cover whatever you need to support your education.

Here's a break down of private student loans from CustomChoice:

• Lender description: CustomChoice offers completely customizable private student loans powered by Cognition Financial. They've facilitated $23 billion in private loans to one million families over the last 25 years.
• Who can qualify: undergraduate and graduate students who are enrolled in a part-time or full-time degree-granting program at an approved school.
• Terms of eligibility: you must have a good credit score and be a U.S. citizen or permanent resident.
• Variable Interest Rates: 1.67%-10.12% APR
• Fixed Interest Rates: 4.64%-11.15% APR
• Minimum credit score: 625

CustomChoice loans are easy to apply for and they only do a soft credit check, so you can find out how much you're eligible to receive without it affecting your credit score.

CustomChoice Pros

With CustomChoice, you can prequalify in minutes with a quick online application. The loans can cover up to 100% of your education costs, and they offer flexible repayment options.

They also offer support programs, so if your finances are impacted by job loss or a natural disaster, they won't charge late fees for missing or late payments.

CustomChoice allows co-signers, which makes you four times more likely to get approved. Your co-signer can be a parent or adult in good financial standing, and when you don't need them anymore they can easily be released from the loan.

Lastly, CustomChoice celebrates your achievements. When you graduate from your program, all loans get a 2% principal reduction.

CustomChoice Cons

CustomChoice does not offer loans to international students in America on a visa. They are also not available in Wisconsin, Iowa, or Arizona.

Repayment Options

CustomChoice has four repayment options:

• Deferred: payments begin six months after graduation (this option has the highest overall cost)
• Flat payment: pay $25 a month in school to reduce your interest and overall costs
• Interest only: make interest-only payments while you're in school, which significantly reduces your overall costs
• Immediate: make both principal and interest payments in school (highest payment option with the lowest overall costs)

Making payments while you're in school will bring your costs down and get your loans paid off faster. If that doesn't work for your financial situation, deferred payments are still a great option.

Find the Right Private Student Loan for You

Are CustomChoice loans the best private student loans for you? If you're looking for flexibility and complete coverage, they are a great option.

However, it's always good to compare multiple lenders. Check out our reviews of other private student loan companies here.

Disclosures