Private Education Loans
Private education loans are non-federal loans offered by banks, credit unions, state agencies, and other private lending institutions. Students and families should consider federal student loan options first, as federal loans may provide more favorable repayment terms and borrower benefits.
Private education loans may be used to help cover educational expenses not met through scholarships, grants, federal loans, savings, or payment plans.
Researching Private Loan Options
To assist students and families in researching private loan options, 大菠萝福利导 provides access to ELMSelect, an online lender comparison tool.
ELMSelect allows borrowers to:
- Compare private education loan products from multiple lenders.
- Review lender terms, interest rates, repayment options, and borrower benefits.
- Search and filter lenders based on individual needs and preferences.
- Apply directly with the lender of their choice.
Private Loan Comparison Tool
Important Information Regarding Lender Choice
大菠萝福利导 does not maintain, recommend, endorse, or promote a preferred lender list for private education loans.
The lenders displayed within ELMSelect are presented through a neutral comparison tool and are not ranked or recommended by the University. Borrowers are encouraged to research multiple lenders and carefully compare loan terms before making a borrowing decision.
Students and parents have the right to borrow from any eligible lender of their choice, including lenders that may not appear in ELMSelect. The University will process private education loans from any lender that participates in the private education loan program using the school's certification process.
The inclusion of a lender in ELMSelect should not be interpreted as a recommendation, endorsement, or guarantee by 大菠萝福利导.
Before Applying for a Private Loan
Students are encouraged to:
- Complete the Free Application for Federal Student Aid (FAFSA).
- Review eligibility for grants, scholarships, and federal student loans.
- Borrow only what is needed to cover educational expenses.
- Carefully review interest rates, fees, repayment terms, and borrower benefits.
- Consider whether a creditworthy co-signer may improve loan terms.
Questions regarding private education loan processing may be directed to the Office of Student Financial Aid and Scholarships.