Private Education Loans

Federal loans may not be enough to cover all your school-related expenses. After you have received all your federal loan eligibility, you may consider applying for a private education loan. Here are some things you should know before you borrow a private education loan:

  • Most private education loans require a credit check.
  • Most private education loans charge higher interest than Federal Direct and PLUS loans.
  • Some private education loans may charge lower interest than Unsubsidized Direct and PLUS loans depending on the signer and cosigner's credit score.
  • Each private education loan has their own unique terms and conditions.
  • Most private education loans require at least 6 credits and an eligible cosigner.
  • Private education loans cannot exceed your cost of attendance including grants, loans, scholarships, and other financial resources.
  • Students may qualify for federal loans or other assistance; the terms and conditions of a federal loan may be more favorable than the provisions of private education loans.
  • There is a federally mandated right-to-cancel period after your private education loan has been approved by the lender. This regulation could delay disbursement for at least 10 business days.

International students please note: Private education loans for international students generally require a US Citizen cosigner.

There are many lenders who participate in this type of funding. The Utah State University Financial Aid office does not recomment, promote, or endorse any specific lenders. We provide the links and lender names below as places to start in your search for additional loan funding. Please take the time to carefully research the terms and conditions of each lender before deciding on which private loan to borrow. Students may be able to locate other lenders by searching for private education loans online. 

FASTChoice Private Loans offers a loan comparison and application tool for several private education lenders. They also provide an interactive overview of important information about repaying your private education loans.

Past Lenders in the last 3 Years

One American Bank PNC Education Loan Center  Custom Choice Loan 
NJCLASS Family Loan  Credible Student Loans Edly Inc 
Deseret First Credit Union  Granite Edvance  Funding University 
Navy Federal Credit Union  SOFI  GESA Credit Union 
Vermont Student Corp  Zions Bank Kentucky Higher Education 
Assistance Authority (KHEAA)
The NHHEAF Network  Randolph Brooks Federal Credit Union Earnest Student Loans 
Goldenwest Credit Union Dr Bank  Lendkey Technologies Inc 
Rhode Island Student Loan Alaska Commission 
on Postsecondary Education 
Cognition Financial 
Sallie Mae Student Loans  Ascent Student Loans Security Service Federal Credit Union
Citizens One Student Loans  Prodigy Finance Ltd  Community America Credit Union 
Massachusetts Educational 
Financing Authority (MEFA)
College Ave  Nelnet Bank 
  Bank of Lake Mills   

Please note: This list has been randomly sorted. Because this is a historical list, some of these lenders may no longer be involved in private student loans. Students are not required to borrow a private education loan from any of the lenders listed above. 

If you have general questions about private education loans or federal financial assistance, contact your Federal Aid Counselor for assistance. For specific details you will need to contact the private education lender directly.