Private Loans

Private loans are borrowed by the student through a non-federal lender, with each lender setting the terms and conditions of the loan. Most require a credit-worthy co-signor, with U.S. citizenship or permanent resident status.

Because of the more favorable interest rates and repayment terms of federal student loans, private loans should only be taken after Stafford and Perkins Loans have been used, and the PLUS (parent loan) has been considered.


You are free to select any loan program you want to use. The loans on this page are provided as service of our office, and are not meant to endorse any particular loan program or lender.


State Loan Programs

Alaska     Connecticut      Iowa     Maine     Massachusetts     Minnesota     Montana     New Jersey     North Dakota     Rhode Island     South Carolina     South Dakota     Texas     Vermont     Wisconsin     Wyoming   

Interest-free Loans (limited number available)

Central Scholarship Bureau of Maryland (closed as of April 1)

Military Officers Association of America

International Association of Hebrew Free Loans (students of all faiths)

Bill Raskob Foundation

Leo Rowe Pan-American Fund (Latin America & the Caribbean)

Scholarship Foundation of St. Louis (greater St.Louis area)

Evalee C. Schwarz Charitable Trust for Education (closed as of April 9)

Vice Admiral E.P. Travers Loan (Spouse/Children of Sailor/Marine) 

Before applying for a private loan:

If you haven’t already applied for “need-based financial aid” you should ask our office if you qualify before completing a private loan application.

Be sure you carefully review and understand all repayment terms before agreeing to apply for the loan. If you ever have questions, please contact our office (see below).

To apply for a private loan, you must:
  1. Determine the amount you need to borrow, by using the Payment Calculator. Note that the “end value” is the NET amount needed from the loan to cover the costs listed in the first two sections of the Calculator (not books, travel, personal expenses, etc.)
  2. Select a lender
  3. Complete the lender’s application