Private Loans

The Financial Aid Office encourages students and parents to consider applying for either the Federal Direct Parent PLUS Loan or the NJCLASS before seeking funding through a private loan.

Private loans are for students and parents who have exhausted all other options for additional resources. Approval for these loans is usually contingent upon the credit-worthiness of the borrower, and amounts are limited to the student's cost of attendance for the enrollment period minus other anticipated financial aid. Under certain circumstances, private loans may be offered to students who are non-matriculating (not obtaining a degree or certificate), international students, registered less than half-time, or do not meet Standards of Academic Progress. Private loans should only be considered after state and federal sources of financial aid have been utilized.

Borrowers may use one private loan application for the entire Academic Year. Please select only ONE lender, as multiple applications will significantly delay the processing of your loan.

Remember, a private loan is an agreement between the borrower and the lender. It is the borrower's responsibility to carefully manage his/her educational loans. Many lenders offer on-line account management which allows the borrower to check loan status, view disbursement information, and monitor loan balances.

Rutgers University provides this private loan list as a service to its student body. Rutgers University does not endorse any particular lender. If your lender of choice does not appear below, please forward your certification request to our office so that we may assist you in your private loan process. Visit lender websites for individual term, interest rate and repayment options. Please borrow conservatively.

Questions to consider when comparing private loans.

For further assistance, contact your regional financial aid office.