UT Warns Students About Emailed Loan Offers
The University of Texas is warning students to be cautious of emails from private companies that advertise student loans from for-profit lenders.
Those emails may use misleading wording in the subject line that could suggest that they were sent by the university. But the Office of Student Financial Services at UT does not promote or endorse any private lenders, according to spokeswoman Jamie Brown.
She says that even with reputable companies, students should shop carefully.
“The interest rates can vary, terms and conditions can vary,” Brown said. “A student might receive a discount on a fee for a private loan and later down the road that might change without notice. Things like that.”
The university recommends that students complete the Free Application for Federal Student Aid and research all grant, scholarship and federal loan options before considering private loans.