Private Student Loans

Private student loans are made by private lenders to students and most require credit worthy cosigners. These loans may be more expensive than Federal Direct PLUS loans and students should first maximize any eligibility under the Federal loan programs. Private loan fees and interest rates vary among lenders. All lenders will review the borrower's and cosigner’s credit history.

The Federal Reserve and Department of Education have recently implemented new rules and regulations that impact student borrowers who use private educational loans. Students should allow at least two weeks for the total processing of a private loan and follow their lenders instructions carefully to avoid delays.

There are many reputable private education loan companies. The following lender tools are good places to start the search. Many students start by using the Great Lakes loan selection tool FASTChoice. These private loan comparison tools empower you to take control of the process and make an informed decision in selecting the best private loan for your individual situation. FASTChoice, powered by Great Lakes loan guarantor and processer, provides general eligibility requirements, interest rates, loan limits, and borrower benefits on specific lenders.

In the current economic and credit market difficulties, private educational loan companies are in a state of change. Make sure to check all lenders' websites for the most current information regarding credit criteria and interest rates.

McDaniel Free Press Weekly Meeting
October 22, 2014, 8:30 pm
October 25, 2014, 12:00 am
Holloway Lecture at McDaniel Lounge
October 28, 2014, 7:30 pm
Graduate Open House at Hoover Library
October 30, 2014, 5:30 pm
Terror Trot & Block and Roll at Gill Center
November 1, 2014, 12:00 am
Spring Undergraduate Registration
November 3, 2014, 12:00 am
Fall Open House at WMC Alumni Hall
November 9, 2014, 11:00 am