School Certified - Private Student Loans

Private Loan Benefits:

• Borrow up to the true cost of your education
  
• Fast eSignature process

Private student loans help supplement your other sources of financial aid, including scholarships and federal student loans, giving you the flexibility to cover up to 100% of your college expenses. You can pay for tuition, books, supplies, housing, and more.

With our school certified private loans you won't have to make any payments while you are enrolled in school at least half-time. You can also receive a 0.25% rate reduction if you sign up to have your payments automatically debited from a personal bank account.

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Features and Benefits

• Up to 100% of your cost of attendance minus other aid, based on certification
• 0.25% interest rate reduction if you sign up to have your payments automatically debited from a bank account
• The funds are certified by your school's financial aid office and sent directly to the school on your behalf

E-Signature helps make it faster to apply and submit your application. We recommend having your co-signer and reference information available when you apply to help further speed up the process.

Eligibility

You must be a U.S. citizen or a permanent resident, and be enrolled at least half-time in a four or five year degree program. Additionally, a cosigner may be required for your loan application, and you and your co-signer must both pass a credit check.

What is my interest rate?

The interest rate is a combination of the Prime rate plus or minus a margin. The rate will fluctuate as the Prime rate changes every three months.

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Are the funds from the loan sent directly to me?

No, a check will be sent directly to your school. If you have questions about what you can use the funds for, you should check with the financial aid department at your college.

What are the different repayment options?

You have three repayment options including deferment or repayment of interest only or interest and principle.

Full Deferral: No principal or interest payments due while enrolled in school (up to four consecutive years). Payment of principal and interest will begin 6 months either after graduation or if no longer enrolled at least half time. Interest will continue to accrue during the deferment period and will be capitalized (added to the loan balance) at the time of repayment.

Interest Only: Pay only accrued interest while enrolled in school (up to four consecutive years). Payment of principal and interest will begin either 45 days after graduation or withdrawal from school.

Immediate Repayment: Payment of principal and interest will begin after the loan is fully disbursed.

How long are repayment terms for the private student loan?

The standard repayment term is 15-20 years subject to a $50 minimum monthly repayment amount.

Are private student loans available at online schools?

Yes, you may be eligible for private student loans while attending an online school or online degree program. Check with your schools financial aid office or visit our Financial Aid for Online Degrees search page to find programs offering scholarships, grants and loans.

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Apply for a Private Student Loan