Private Student Loan Eligibility

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Private Loan Benefits:

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

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In order to obtain private student loan eligibility, applicants must be enrolled at least half-time at an eligible school and typically meet the following requirements:

  • Must be a U.S. citizen or permanent resident
  • You and your cosigner will both need to have a valid social security number
  • You and your cosigner must pass a credit check

Private Student Loan Eligibility Credit Requirements

It is recommended that you review your credit report before you apply for a private student loan. Creditors look at personal data such as employment history, a summary of credit history, details of any accounts turned over to a credit agency, and your current FICO® score. Get your FICO® score now and improve your credit score.

Apply With a Co-signer

While not required, we strongly encourage undergraduate students to apply with a creditworthy co-signer if they may have difficulty qualifying for a loan due to limited income and credit history. This may increase an applicant's chances of approval and of possibly obtaining a better interest rate.

While not all private student loans require that you apply with a cosigner, having a credit worthy cosigner can potentially increase your chances for approval and potentially give you a lower interest rate. Learn about cosigners and private student loans

Private Student Loan Eligibility School Requirements

You must attend an eligible community college, traditional college or university, or eligible graduate program at least half time. Enrollment is verified after you submit an application, as part of the loan approval process.

Get the Money you Need with a Private Student Loan

  • Cover additional costs not met by other financial aid
  • Borrow up to the cost of attendance and pay for tuition, housing, etc.

Learn about Private Student Loans Apply now for a private student loan