Private Education Loans

Private educational loans may be an important funding source for students who need more loan funds than the federal programs can provide. Terms of private loans vary significantly. These loans may have higher rates than federal loans because the federal government does not guarantee them. They require a credit check and/or debt-to-income ratio check on the borrower and/or co-borrower. A co-borrower may be required; lower interest rates may be available to students who choose to have a co-borrower. Before a dependent, undergraduate student borrows a private loan, parents should consider applying for a PLUS loan. In most cases payments on a PLUS loan may be delayed until the student graduates.

University of Denver wants students to compare lenders and make informed loan selection choices. The Office of Financial Aid provides information yearly on lenders who offer competitive products, good customer service, and meet the University's electronic processing requirements. By selecting one of the recommended lenders, your loan funds will be electronically disbursed to DU and credit your student account automatically. The information provided is to give you an idea of what is available; for specific information regarding terms and rates, please contact the lenders directly. Links to relevant websites are provided for each loan program. If you decide to use a lender other than those listed, the extra processing time may delay the arrival of your funds. Apply early, as processing may take several weeks.

You must initiate the loan process with the lender you select. Applications may be available online at the lender's website or by contacting the lender by phone. Once the borrower's and/or co-borrower's credit is approved, DU will receive a request from the lender to certify the loan. We will certify the loan for the lesser of the amount you request on your application or the maximum amount allowed by your financial aid budget (total cost minus other financial aid.) Funds received will be applied first to your student account and then refunded to you in the event of a credit balance.

Recommended private loan lenders for:

• undergraduate students
• graduate students
• law students