Private Loans

Private Student Loans

Online universities can put you in touch with national lenders who offer private loans to cover your tuition and other educational expenses. Ask the Enrollment Counselor if this is an option right for you.

Private lending institutions, such as banks that offer educational loans, make it quick and convenient for you to apply either on the phone or online. Alternative student loans have attracted a lot of criticism from lawmakers that suggest too many students are using these products as first resorts. Always use federal loans first.

When you must apply for a private student loan you will either need to have your own good credit or have a co-signor. The application process is not difficult and there are surprisingly quick turnarounds on these alternative educational loans.

What you must know about private or alternative student loans:

Private loans must always be your last resort. Most feature high interest rates and high and dangerous credit limits with few borrower benefits.