Private Educational Loans are administered by private lenders and there are a variety of lending institutions that offer these.

You should first apply for a Direct Subsidized/Unsubsidized Loan and then consider the Direct PLUS Loan (if the student is dependent) or the Direct Graduate PLUS (if the student is a graduate student) and then, if additional funding is needed, apply for one of these loans.

Please allow at least 4 weeks from the start of the application process to disbursement of funds due to numerous disclosures now required by lending institutions.

You may choose to use any lender that offers a Private Educational Loan.  You may want to contact the bank, savings and loan, or credit union with whom you do business.

1. Students and families will need to conduct research to find the best private educational loan to suit their needs. (i.e. identifying lenders who will approve loans for non-matriculated students, certificate programs, prior balances, etc.) Students apply directly through the lenders.
2. Once approved for an alternative loan, the Office of Financial Assistance will review the loan for school certification.  This process includes confirming enrollment and verifying the eligibility for the type of loan requested and the borrowing amount requested.
3. Each aid applicant will receive a notice of eligibility from the Office of Financial Assistance.  
4. Loan funds will be disbursed in accordance with the disbursement schedule once all necessary paperwork has been completed. 

Notes

Due to the numerous disclosures required by the Department of Education, students need to remain in contact with their lender to ensure timely disbursement of funds. Applying for the loan late, or failure to complete required disclosures may delay your funds and possibly cause you to incur University late fees, if your bills are not paid on time.