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Many lenders—such as banks, credit unions, and state agencies—offer private loans to supplement a family’s other financial resources. These programs often have higher interest rates than the federal loan programs and require borrowers to be credit-worthy. Students may borrow private loans, but will most likely require a credit-worthy co-signer to be approved and/or to gain a more favorable interest rate. Interest begins to accrue on these loans when they are disbursed, and the terms and conditions of private loans vary from lender to lender. International students may borrow a private loan if they have a credit-worthy U.S. citizen co-signer.