Private Loans: How to Apply

To apply for a private educational loan, you will need to choose a lender and then complete an application directly on that lender’s website.

Choosing a lender is an important decision. You are beginning a relationship with a loan provider who works with you for many years over the life of your loan.

  • Private loan funds will be evenly divided over your academic year unless the loan period given on your application indicates differently.

  • Contact lenders directly for information on how to apply.

Most lenders offer attractive borrower benefits and incentives for repayment. However, there may be less than 15% of borrowers who actually receive the benefits for reasons such as consolidation of loans in the future or making late payments. You should always review the current benefits at the lender’s website when you select a lender.

Feel free to print out the Questions to Ask guide to direct your research.

Still deciding if private loans are right for you? Get more information on private loans first.