Private Loan Options - Private Student Loans for Every Type of Student
Private student loans are credit-based, which means we will check your credit when you submit your application. Students are nearly 4 times more likely to be approved with a cosigner since many students haven’t had time to build up their own credit. A cosigner is someone who shares responsibility with you for paying back the loan and is often a parent, but can be any creditworthy adult.
Private Student Loan Eligibility
Private student loans, offered by banks and financial institutions, are based on your credit profile. Your credit—and your cosigner’s credit—are evaluated, along with other information provided on your application. Applying for a private student loan with a creditworthy cosigner may increase your chances for approval and may help get you a better rate, since many students haven’t had time to build up their own credit.
You should generally consider federal student loans first, and then take out a private student loan if you still need money for college.
CIAT students can apply for Sallie Mae and / or Meritize to receive personal student loans. Benefits of private student loans include:
