Private Education Loans, also known as Alternative Education Loans, help graduate students bridge the gap between the actual cost of education and the amount the government allows students to borrow in its programs. Private loans are offered by private lenders, so students are not required to complete any federal forms. Eligibility for private student loans often depend on a student’s credit score.

Private education loans generally have higher, variable interest rates than education loans with fixed interest rates offered by the federal government. However, the rates are less expensive than credit card debt. It is important to note that federal education loans also offer better repayment and forgiveness options. You should exhaust your eligibility for federal education loans before applying for private student loans.

If you are interested in a private education loan, please contact the Office of Financial Aid at (800) 770-6936.