Guaranteed Below Prime College Online Loan

   A Guaranteed Below Prime loan is offered by a few private student loan providers. Generally this would be a personal loan that a lender would give to the student or the parent, which would have a rate guaranteed below HELOC (home equity line of credit) This would be because most parents would put up their home as collateral for the "student loan". The loan would be set up as a line of credit for some maximum draw, rather than for a fixed dollar amount. This illustrates the need to figure out what type of student loan is right for you and know the differences before you commit to one.