Private Education Loans

Federal financial aid, including grants and federal student loans, should always be considered first. If additional funding is still needed, private education loans may be an option to help cover remaining educational costs.

Private Loans Comparison Tool

Use our comparison tool to review private lenders, interest rates, repayment options, and eligibility requirements.

Before You Apply

Before applying for a private education loan, we recommend that you:

• Complete the FAFSA at StudentAid.gov to determine your eligibility for federal aid.
• Review all federal loan and grant options.
• Consider your long-term repayment responsibilities before borrowing a private loan.
• Borrow only what you need to cover your educational expenses.
• Carefully compare multiple lenders and loan terms.

Key Things to Know About Private Education Loans

• Private education loans are credit-based and often require a credit check and/or a co-signer.
• Interest rates may be fixed or variable and are generally higher than federal student loans.
• Loan terms, repayment options, and borrower benefits vary by lender and should be reviewed carefully.
• Approval for a private education loan is determined by the lender and is not guaranteed.
• Private loans cannot exceed your Cost of Attendance, including all other financial aid received.
• Students are strongly encouraged to exhaust federal aid options first, as federal loans may offer more flexible repayment options and borrower protections.
• Most lenders require enrollment of at least half-time (typically 6 credits).
• Private education loans are typically intended for current or upcoming enrollment periods. Availability for prior term balances or past-due charges may be limited and depends on the lender’s policies.
• Private education loans must be certified by the university before funds can be disbursed to your student account.
• Before finalizing your loan, you may be required to complete a Private Education Loan Applicant Self-Certification form.
• After approval, there is a federally required right-to-cancel period, which may delay disbursement by several business days.

Federal Loans vs Private Loans

Private education loans differ from federal student loans in several important ways:

Lender Information

Utah State University does not recommend, endorse, or promote any specific private education loan lender.

• You may choose any eligible private lender.
• You are not required to use any lender listed on this page.
• Selecting a lender not listed will not delay loan processing or certification.
• We certify all private education loans without prejudice and with equal timeliness.

Recent Private Loan Lenders (Examples Only)

Below are examples of lenders that currently offer private education loans. This list is provided for informational purposes only and is not exhaustive. Lenders are listed in alphabetical order.

• America First Credit Union
• Ascent Funding
• Citizens Bank
• College Ave
• Deseret First Credit Union
• Earnest
• Goldenwest Credit Union
• Granite Edvance
• KHEAA (Kentucky Higher Education Assistance Authority)
• LendKey
• MEFA (Massachusetts Educational Financing Authority)
• Navy Federal Credit Union
• Nelnet Bank
• PNC Bank
• RISLA (Rhode Island Student Loan Authority)
• Sallie Mae®
• SoFi
• Zions Bank

Questions?

If you have questions about private education loans or your financial aid options, please contact your Federal Aid Counselor.

For specific loan terms, application details, or repayment questions, you will need to contact your selected lender directly.