College Loan Corporation

College Loan Corporation is one of the top ten student loan providers in the United States and has served over 800,000 students since its founding in September 1999. Located in Las Vegas, Nevada, the company is responsible for over $10 billion in current student loans and is regarded as an innovator in the student loan industry. College Loan Corporation enjoys a highly-favorable reputation with students and institutions, and has been named a preferred lender by over 850 colleges and universities throughout the country. The company has won a number of awards as well, including the BBB Torch Award given for excellence in business ethics and the American Business Award for superior support and service to its customers.

College Loan Corporation offers private loans to students whose educational expenses exceed the amount available through federal loan services. The most popular loan offered by College Loan Corporation is the CLC ® Premier Loan, which provides maximum flexibility to students and can be used to fund the full cost of attendance including tuition, books, and living expenses. No student loan payments are required from full-time students until after graduation; however, if enrollment drops below half-time, College Loan Corporation may require the student to make payments on his or her loans at that time. Once the student returns to full-time college or university studies, a deferment is usually granted to delay payments until such time as the student graduates or falls below half-time enrollment again. Since the company offers private loans, it may be necessary for the student borrower to obtain a co-signer due to lack of credit history or current employment; most students obtain private student loans with the assistance of their parents or guardians.

Expert financial aid advisors are available to help students with the application and approval process. In most cases, it is advantageous for students to maximize the amount of grants and federal loans before obtaining private loans; College Loan Corporation’s customer service department can assist students in creating the right mix of financial aid to minimize the expense while maximizing the amount available for educational expenses. Most of the paperwork can be filled out online, including the student’s application for private student loans and the cosigner’s personal information. College Loan Corporation can often prequalify student borrowers instantly, taking some of the wait and worry out of the financial aid application process. Once the loan has been approved, the money is disbursed to the educational institution and applied to the cost of tuition; any excess funds are then returned to the student to help pay for books and other associated expenses.

Currently College Loan Corporation is not funding any additional student loans due to recent setbacks in the U.S. economy. The company is still administering existing loans, however, and is seeking additional sources of credit in order to continue its operations in the future.