Before you apply for a Private Loan, you should exhaust your eligibility for Federal loans (Stafford, PLUS, and Grad PLUS) as they are typically less expensive and offer flexible repayment options. Additionally, your eligibility for Private Loans will be reduced by your Federal grade level eligibility, even if you chose not to complete the FAFSA and apply for Federal loans.
The lenders listed below are set up to facilitate efficient, electronic processing and disbursement of funds directly to your student account. We provide this list as a guide to you; however, you are free to choose another lender without penalty.
Private Loan certification will be completed if all the following criteria are met:
- The student is degree seeking
- The student is enrolled at least half-time
- The loan is for the current semester/loan period or to satisfy past due balances for the previous semester only
- The loan disbursements are split for fall and spring semesters
- The student is meeting Satisfactory Academic Progress (SAP) as determined by the Financial Aid Office
If any of the previously mentioned criteria are not met, the student may apply for a Non-Certified Private Loan only.
Additionally, if the lender selected is not on the school participating list, the non-certified option should be selected.
Private Loan processing time is 6 – 8 weeks