Explore Custom Choice student loans, including interest rates, pros, and cons. Find out if Custom Choice works for you as a student loan option.
The article from MSN Money discusses the Custom Choice Student Loan for 2025, detailing its features, advantages, and potential drawbacks. Custom Choice offers both undergraduate and graduate student loans with competitive interest rates, flexible repayment options, and no application or origination fees. Key benefits include the ability to choose your loan term, which can range from 5 to 20 years, and the option for in-school deferment or immediate repayment. However, there are cons to consider: the loans are not federal, meaning they lack federal benefits like income-driven repayment plans or loan forgiveness. Additionally, a cosigner might be required for those with limited or poor credit history, and the interest rates can be higher for those without excellent credit. The article also suggests alternatives like federal student loans, which offer more protections, and other private lenders like Sallie Mae or Discover, which might provide different benefits or lower rates depending on individual circumstances.