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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.

PLUS Loan vs. Private Loan (chart)

PLUS vs. Private Loans (U.S. Dept of Education)

Other Loans

Because of the more favorable interest rates and repayment terms of federal student loans, private loans should only be taken after all Stafford 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 a service of our office and are not meant to endorse any particular loan program or lender.

The most commonly-used private loans by our students are, in alpha order:

State Loan Programs
Alaska  Connecticut Iowa  
Maine  Massachusetts   Minnesota Option 1  Option 2 (2)  
Montana (2) New Jersey North Dakota 
Rhode Island South Carolina South Dakota (2)
New Mexico New Hampshire Texas  Option 1  Option 2
Utah Vermont  Wisconsin (2)
Wyoming (2)    

  (1) must use Internet Explorer
  (2) all use the Bank of North Dakota 

Interest-free Loans (limited number available):
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.

Compare private loans with federal parent loans, using the links in the upper, right column of this page.

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 Contacts in right column).

To apply for a private loan, you must:
  1. Determine the amount you need to borrow by carefully reviewing your billing statement.
  2. Select a lender
  3. Complete the lender’s application

Contact Financial Aid

Phone and Fax



Patterson Lodge, 2nd Floor
Middle Campus, Map


8:30 a.m. - 5 p.m.


Jerry Cebrzynski
Associate Vice President for Financial Aid

Mark Anderson
Associate Director

Adriana Rodriguez
Associate Director for Financial Aid Operations
School Certifying Official

Si necesita hablar con alguien en español en la oficina de ayuda financiera, usted puede llamar a Adriana Rodriguez.