Learning Center

Applying for A student Loan Made Easier – Marrick Finance

In the modern economic environment, the cost of college tuition has risen dramatically, but it is not all bad news. As the cost of school goes higher, the access to student loans and funds for college is on the rise as well.

There are very many diverse student loan programs such as:

  • College scholarships
  • Grants
  • Federal student loans
  • Stafford loans and more

If you were looking for financial aid for your education, you have many options. Furthermore, since the slowing economy has also put many people in a bad credit situation, there are options such as Marrick Finance’s no-credit student loans which are designed for students with poor or no credit.

Student Loans vs. Student Line of Credit

You have surely heard about student loans, but have you ever heard about a student line of credit? What is the difference? Who is eligible? When do you have to pay it back? If you find yourself asking questions like this, then do not sweat it. We took all the notes so that you can focus on what is important for now – your studies.Telling the difference between a student loan and a personal line of credit can be difficult. The main difference lies in:

•  How the eligibility process works
•  How interest is paid
•  And when you have to pay back the full amount

Let us take a closer look:




Things You Should Know About A Marrick Finance Student Line of Credit

Do you have more questions? Please head to our FAQs.

Picking Between A Variable and Fixed Rate Student Loan

So, you have filled out the student loan application, gotten approved (congratulations!), and now you are faced with two options for your loan: fixed or variable interest loans?

In this section, we are going to see some factors worth considering before you decide whether to settle on a fixed or variable rates student loan:

Fixed-Rate Student Loans

Fixed-rate student loans have a consistent interest throughout the loan term. In other words, the interest rate on the loan when you first borrowed it will be the same rate you pay at the end of the repayment period.

In general, fixed-rate student loans are considered a safer option since there is no chance the interest rate will increase over the life of the loan.

How to choose a student loan that works for you: variable or fixed

The final decision you make about your student loan will mostly depend on your situation. If you are looking to pay off your student loan quickly, then one with a variable interest rate may be the cheap option because of the lower interest rates.

Nonetheless, beware that the longer it takes for you to pay back the loan, the greater the chances for the interest rates to rise. You can help mitigate your risks by going with a lender with a cap on the variable rates such as Marrick Finance, but there will still be fluctuations.


When thinking about the difference about fixed and variable rate student loans, it helps that the name is very descriptive.

A fixed rate loan stays the same for the entire course of the loan. A variable interest loan may fluctuate with market changes over time. Furthermore, all federal student loans have fixed interest rates that are set and reviewed annually by Congress.

Want to learn more about student loans? Check out our FAQs and more resources in our Learning Center that will help you better understand student loans.

Apply for a Marrick Finance Student Loan Today

Student loans can get complex, but Marrick Finance is here to help. We are with you every step of the way, from helping you finance your tuition to help you manage existing student debt.