When considering private loans from a personal finance standpoint, it is extremely important that 你 have first exhausted all other financing options such as grants, 奖学金, and all types of federal student loan options. 没有良好的信用记录, 你 will likely need to find willing and creditworthy individuals to co-标志 你r private loan applications. 应用ing with a worthy co-标志er will likely increase 你r chances of approval and partially lower 你r interest rate.
We recommend 你 request a free copy of 你r credit report from each of the three credit bureaus (Equifax, 益百利, 和TransUnion) www.annualcreditreport.com根据法律规定，你每年都有权这样做. While 你 will be required to pay a fee to each one of the three credit bureaus to obtain 你r actual credit score(s), it is important to at least check 你r credit report(s) annually for any errors or illegal use.
Please refer to the Private Loan application process below. If 你 have any additional questions 你 may 联系财政援助办公室 了解更多信息.
Make sure 你 have completed the FAFSA, accepted 你r annual maximum in Direct Federal Student 贷款, and exhausted all other financing options first.
Take time to learn more about the different lender options and any regulations associated with private loans. If 你 are having trouble choosing a lender, view the list of preferred lenders that we have compiled on FASTChoice! This list is created by a board of professionals, 由有竞争力的贷款人组成, 每两年审查一次. 新增贷款人, 或删除, based on criteria about historical data collected and information provided about specific loan products.
FASTChoice选项
This list is created by a board of professional and is comprised of lenders that the board has deemed competitive. This list is reviewed biannually and lenders are added, 或删除, based on criteria about historical data collected and information provided about specific loan products. Carefully review and compare the loan information on FASTChoice, and apply with the lender that best suits 你r eligibility and needs. 你 may also use a lender that is not on the list.
私人贷款规例
Regulation Z Requirements | 私人贷款规例 (Title X of the Higher Education Opportunity Act): 截至2月14日, 2010, both private lenders and institutions offering private loans to students must comply with a new set of regulations per the Federal Reserve Board. 根据新的法律, a lender offering private loans for postsecondary educational expenses must first provide a disclosure about loan terms and features at the time of application and must disclose information about federal student loan programs that may offer less costly alternatives.
If the initial application reaches an approval status, a second loan disclosure statement must be provided to the student at that time. If a student accepts the loan terms provided in the second disclosure statement, a third final disclosure must be provided when the loan is consummated.
An additional piece of the new private loan regulations requires an applicant to complete a “self-certification form” and return it to the lender before they may disburse the loan to the school. The “self-certification form” may be found on the lender’s website. Each private lender may have a slightly different application process, so it is best to contact 你r private loan lender directly if 你 have any questions.
最后的, a lender must provide the student with a 3 day rescission or “right-to-cancel” period after the final loan disclosure form is sent to the student. The 3 day rescission period means that once the school has certified 你r loan and it is ready to be disbursed, there is a mandatory 3 business day waiting period before the lender may disburse loan funds to the school. If a lender only offers a mailed Final Disclosure (not online), then they must wait 6 days to disburse the loan to the school (3 days for mail time and an additional 3 day “rescission or “right-to-cancel” period).
应用 online with the lender of 你r choice. 你, 和/或你的共同签署人, will receive the Application Disclosure Statement and the Self-Certification form that must be completed and returned to the lender.
贷款人, with whom with 你 和/或担保人 applied with, will conduct a pre-approval credit investigation and notify the applicant(s) as to approval or denial. If approved by a lender for a private loan, 你, 和/或担保人, will need to review the Master Promissory Note (MPN) for accuracy, 标志, 然后回到贷款人那里. Most lenders offer an e-标志 option online in place of the MPN.
你, 和/或担保人, will receive a Final Disclosure Statement. This will allow 你 up to three (3) days to cancel the loan before it is disbursed to the school.
The loan proceeds will be sent directly to the PBA and will be applied to 你r account to clear any balances. Any remaining funds will be refunded directly to the borrower.
你 will need to renew 你r Private Loan application with 你r lender each academic year.