Private Educational Loans

Private educational loans are non-federal loans offered by banks, credit unions, state agencies, and other private lenders. These loans may help cover educational expenses when scholarships, grants, federal loans, and other resources do not fully meet a student's cost of attendance.

Private educational loans are credit-based and approval is determined by the lender. Interest rates, fees, repayment terms, and borrower benefits vary by lender. Depending on the lender and the applicant's credit profile, a creditworthy cosigner may be required or may help the borrower qualify for more favorable terms.

Students are encouraged to borrow only what is needed to meet educational expenses.

Federal Loan Considerations

Before applying for a private educational loan, students should review all available federal financial aid options. Federal loans may offer borrower protections and repayment benefits that are not available through private loans, including access to federal income-driven repayment plans and Public Service Loan Forgiveness (PSLF), when eligibility requirements are met.

Students should carefully compare federal and private loan options to determine which financing solution best meets their individual circumstances.

Compare Private Loan Options with FastChoice

The University provides access to FastChoice, an online loan comparison tool designed to help borrowers research and compare private educational loan products. FastChoice allows students to review lender information, interest rate structures, borrower benefits, repayment options, and other loan features in one location.

The choice of lender is entirely the borrower's. Students are not required to select a lender displayed through FastChoice and may choose any eligible lender that offers educational loans.

The University does not endorse, recommend, or promote any specific lender or loan product. FastChoice is provided solely as a resource to assist borrowers in evaluating available options and making informed borrowing decisions.

Loan Comparison Tool

FastChoice

Compare private educational loan options from participating lenders using FastChoice. Review interest rates, repayment options, borrower benefits, and other loan features to help identify the loan that best meets your needs. Options for international students and non-citizens may also be available through specific lenders. After comparing available options, you may apply directly with the lender of your choice.

Access FastChoice

Loan Certification

The University will certify eligible private educational loans in accordance with federal regulations and institutional policies. Loan amounts may not exceed the student's cost of attendance, less other financial aid and resources received for the same enrollment period.

All private loan requests are reviewed and coordinated with existing financial aid to ensure compliance with annual and aggregate borrowing limits, cost of attendance requirements, and other applicable regulations.

Students should allow sufficient time for lender processing and school certification when planning for educational expenses.