Important Note:
As of Feb. 14, 2010, all private loan borrowers, pursuant to revisions in the Truth in Lending Act, are required to complete a self-certification form (PDF) before a private student loan can be approved. While your lender is required to provide you this form, colleges are also required to provide a copy. Download the self-certification form (PDF). Some lenders may also ask you to provide Quinnipiac University's OPE ID# which is 00140200.

Private/alternative loans are available for students seeking loan assistance above and beyond the federal programs. We strongly encourage students to apply for financial aid first, and exhaust all federal student and parent loan options second, prior to borrowing a private loan due to the higher rates, fees, terms and conditions that usually apply. 

Private educational loans are available for students and normally require a credit-worthy co-signer for approval. Securing a strong, credit-worthy co-signer also insures the student better rates and fees on most loans.  Interest will accrue from the moment the loan is disbursed and repayment normally begins after graduation. Student borrowers often have the option of making interest-only payments while in school or deferring and capitalizing the interest until after graduation. It is important to note that capitalizing interest over four years of undergraduate study will result in a much higher loan balance due than if a student paid the accrued interest while in school.

Unfortunately, due to the state of the economy, many lenders have stopped offering private educational loans, tightened credit criteria, or raised interest rates and fees in an effort to offset the higher cost of raising capital to lend. At this time, there are about a dozen national lenders, some credit unions and a small number of states offering private educational loan programs. For specific details on private loans, we recommend you go to ELM Select, which offers unbiased information on private educational loans, lenders, rates and fees.

ELM Select will randomize the list of lenders each time a user refreshes the page in order to remove any coincidental prioritization. Neither Quinnipiac University or its affiliates will give preference to a particular lender or loan program so borrowers are strongly encouraged to carefully review all loan options including terms, conditions, rates and fees prior to applying. Each lender provides contact information on their link and will be happy to answer your individual questions. Quinnipiac University will gladly certify any educational loan regardless of its inclusion on the ELM Select site.

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