Reviews
Custom Choice student loan review: is it worth it?
The Custom Choice student loan came to help undergraduate and graduate students. With low fees, it allows for smooth payment in the long run. Read More!
Advertisement
by Sabrina Paes
Custom Choice student loan review and benefits: Amounts up to $99,000, no origination fee, and low APR
Do you need help getting your degree? Due to its benefits, the Custom Choice student loan could be a good option to help you with this objective.
How to apply for Custom Choice student loan?
Do you need a student loan with a relatively low APR? Read our post about the Custom Choice student loan application!
This loan has no origination fees, no late fees, and no prepayment penalties. In addition, you can reach a value of up to $99,000 with a low APR, whether fixed or variable. Know more!
| APR* | 2.67% to 11.55% variable APR; 3.65% to 12.47% fixed APR. *Terms apply. |
| Loan Purpose | Undergraduate and graduate cost coverage. |
| Loan Amounts | $1,000 up to 100% of the school-certified cost of attendance minus other aid, not to exceed $99,000. Applicants who are permanent residents of Iowa are subject to a minimum loan amount of $1,001. |
| Credit Needed | 660 without a co-signer. |
| Origination Fee | N/A. |
| Late Fee | None. |
| Early Payoff Penalty | None. |
Advertisement
Custom Choice student loan: how does it work?
The Custom Choice student loan is aimed at young people who wish to obtain an undergraduate or graduate degree. That is, it is a type of loan with low associated fees, including reduced APR.
There is a fixed APR rate that varies between 3.65% and 12.47% and a variable rate between 2.67% and 11.55%.
However, you can get up to $99,000, and there are no extra origination fees, late fees, and prepayment penalties.
Is it worth it to apply for the Custom Choice student loan?
Choosing a good student loan is essential to ensure a good future and the completion of studies.
However, it is critical to be aware of all the pros and cons of each model. Check out what we separate about the Custom Choice student loan.
Advertisement
Benefits
- A credit check is not required to qualify. Fees vary depending on payment and credit usage;
- There are no late fees;
- Resources allow faster repayment of the loan;
- Borrowers have the option of paying interest only, making fixed $25 or full payments during school or deferring payment until graduation.
Disadvantages
- The forbearance program is less generous and slightly inferior compared to other student loans;
- It does not apply extra payments to the main balance by default.
What credit scores are required for the application?
For the Custom Choice student loan, the credit score varies depending on the type of transaction to be made. If there is no co-signer, the minimum amount is 660.
However, if you choose to add a guarantor-type co-signer, the minimum score may be 600. However, depending on the guarantor’s credit score, the company may not require a minimum score from the borrower.
Custom Choice student loan: applying for this loan today
A loan can solve the lack of money to finish your studies. The rates offered by the Custom Choice student loan are low and allow for peace of mind when completing your undergraduate or graduate degree.
However, knowing how to apply is essential to increase your chances of approval. Check out our post that shows the step-by-step.
How to apply for Custom Choice student loan?
Do you need a student loan with a relatively low APR? Read our post about the Custom Choice student loan application!
Sabrina Paes
Trending Topics
Petal 1 Visa credit card: complete review
The Petal 1 Visa card accepts applicants with limited or poor credit scores, charges not annual fees and reports to the major credit bureaus.
Keep Reading
Crypto betting sites: the 6 best ones in 2022
The crypto betting sites are gaining space and captivating new bettors. This article will explain what it is and some of the best sites.
Keep Reading
Unique Platinum credit card full review
The Unique Platinum credit card offers 0%, fast approval and no credit checks and- in spite of being a subprime credit card - rewards.
Keep ReadingYou may also like
Opening a Qtrade Investing account: learn how!
With the Qtrade Investing account you have access to all the major North American markets, being able to trade stocks, ETFs, bonds, and more.
Keep Reading
TFSA vs RRSP: which you should choose?
TFSA vs RRSP. Which one should you pick? Should you have both? We answer these and other common questions about these types of accounts.
Keep Reading
American Express Gold credit card full review
The American Express Gold credit card may be the right choice if you want to enjoy traveling and entertainment perks. Learn more about it!
Keep Reading