Private Loans

Private loans are offered by private lenders to provide funds to pay for educational expenses. You should generally consider federal student loans first, and then take out a private student loan if you need additional funds. Federal student loans generally have lower interest rates and more favorable repayment terms. Alternative loans are offered by private organizations, such as banks, credit unions, and state-based or state-affiliated organizations, and have terms and conditions that are set by the lender.

Your credit, and your co-signer’s credit, are evaluated along with other details provided on your application. Applying for a private student loan with a creditworthy co-signer may increase your chances for approval and may help get you a better interest rate, since many traditional aged students do not have enough credit history or income.

Applying for a Private Loan

It is extremely important to begin the alternative loan application process in a timely manner. We recommend applying for your loan at least 30 days prior to the semester payment deadline to ensure that your loan will be processed before the payment is due.


We understand that searching for a loan program that fits your needs may be difficult. That is why we have partnered with ELMSelect to make the process of comparing lenders and their products easier. Here, you can compare rates, terms and even complete an application. Begin comparing lenders using the links listed below.

The organizations listed are ones that our students have borrowed from during recent academic years. Should you choose a lender or program that is not on this list, please know that we would be happy to work with any lender or program. You have the right to select a program that is the best fit for you and your family.

Undergraduate Students

Parent Loans for Undergraduate Students

Graduate Students