"When you are applying for a loan, the repayment period will be determined on your individual requirements but for a private loan, it is common for the repayments not being required until you graduate or leave school."

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Private Loans - Education Loans

This makes sense since the intention of a student loan is to help students, not to make money off them (at least not too much money from them).

 

Hence, it is good to be very circumspect about the way to plan your finances once you avail of a secured consolidation loan with your house as collateral.