Private Loan

Description: A private supplemental loan for students available from a national network of lenders with a fixed or variable interest rate based off of Prime or LIBOR plus a mark-up determined by credit rating. Fees and rates vary based on loan program and credit rating.

Eligibility: Typically for students enrolled at least half-time; a credit check is usually required; cosigner is often required
Amount: Loan limits vary by program but not to exceed cost of attendance.
Repayment Term: Repayment terms vary by program.
How to apply: Each lender will have specific procedures for you to follow. Contact your financial aid office to see if they have a list of preferred lenders or research rates and fees at your local bank, credit union or state loan agency.