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Why should I consider applying for an private student loan?
Private student loans are intended to be used to fill the gap between your resources, awarded financial aid, and your annual cost of attendance. If all these sources are not sufficient to finance your education, a private loan may be a good option for you.
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How much am I eligible to borrow?
The maximum you can borrow is your cost of attendance, minus all sources of financial aid received. However, we recommend borrowing as little as you need. If you have any questions determining your eligibility, the Financial Aid Office can assist you.
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Do any U.S. banks offer loans to international students?
Very few U.S. banks offer private loans to international students, and as far as we know the ones that do, require a creditworthy cosigner who is a U.S. citizen or permanent resident. The lenders on this list have been used by some of our international students over the past couple of years.
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Where can I find up-to-date interest rate information?
The following website offers current interest rate information. You can also check directly with the lender.
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How can I determine which loan is best for me?
Interest rates and fees can vary by lender. We would like to encourage you to visit the following website, which allows you to compute the various terms set by each lender, using their listed interest rates, fees, and repayment periods.
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I have chosen a lender and know how much I want to borrow, what do I do now?
Most lenders offer an online application process. If you feel more comfortable with a hard copy application, you may contact the lender to request one. In order to ensure proper processing, your application must be certified by the school before any lender will disburse funds.
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I have completed the loan application and have been approved. When will I receive the funds?
Loans typically have multiple disbursements (a percentage released each semester). If your loan application is submitted at least one month prior to the beginning of classes, your first disbursement should be available by the first day of classes.
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How can I obtain a copy of my Credit Report?
You can request a free copy of your credit report once every 12 months at www.annualcreditreport.com. Any of the following national credit bureaus will send you a copy for a small fee:
- Experian: 1-888-397-3742
- TransUnion: 1-800-888-4213
- Equifax Credit: 1-800-685-1111
Please note that there are regulations for private loans that require additional disclosure statements due to the Truth-In-Lending-Act. You can help by submitting the Borrower Self Certification Form promptly, and by allowing at least three weeks for the entire process