Private Loans

Need To Know

1. Disclosure forms – Lenders must provide required disclosures to the student and cosigner, if applicable, at three different times during the private loan origination process:

2. Private Education Loan Applicant Self-Certification Form – requires information on your cost of attendance, as determined by the school you attend. Please refer to our cost of attendance chart for 2018-2019. A credit-approved student borrower must submit a completed Private Education Loan Applicant Self-Certification form to the lender before school certification will be requested.

3. Timing Requirements – Federal regulations extend the loan processing timeline so meeting deadlines for specific steps will be critical to the successful and timely disbursement of your loan funds. Private loan requests from lenders who do not use Education Loan Management Resources (ELM) to electronically certify and disburse private loans will have a processing time frame of 4-6 weeks. Please contact your private loan lender to verify if they certify and disburse loans through ELM in order for you to plan accordingly.