A private student loan is a non-federal loan offered to help students meet a gap between their cost of education and any other aid they may have accepted. Student borrowers must meet the lenders' credit requirements or have a credit worthy co-signer. Some lenders require borrowers to be enrolled at least half-time in a University degree program while others offer loan options for students enrolled less than half-time and/or in non-degree classes. The Free Application for Federal Student Aid (FAFSA) is not required of private loan applicants but it is always recommended that students submit the FAFSA and have their Federal grant and loan eligibility determined before applying for a private loan.
If you borrow, borrow smartly!
The information provided below is provided simply as a resource and is not a guarantee of eligibility, costs or benefits. You should always verify specific loan information with a lender before borrowing. Please call them or visit their web sites for additional, updated, or changed information.
You are welcome to choose any lender you like for a private student loan. The list below provides information on lenders, listed in alphabetical order, that USF students have borrowed from in the past three to five years, but is not meant to be a comprehensive list of all private student loan lenders. If you are considering different private loan lenders, whether or not they appear on this list, you should collect comparative information about fees, interest rates, repayment options, and benefits in order to make an informed decision. We also recommend that you use a loan repayment calculator to estimate what your monthly payment may look like once you are in repayment on your loans.
| Lender & Loan Program |
Charter One/Citizens Bank Trufit Student Loan |
Phone Number
|
(800) 721-3969
|
| Website |
www.charterone.com/trufitstudentloan
|
| Eligibility |
Loan is available in both fixed rate and variable rate options. Students must be enrolled at least half time and be a U.S. citizen or permanent resident, or an international student with a valid Social Security Number applying with a qualified U.S. citizen or permanent resident cosigner.
|
| Prior Balances |
Balance may not exceed 180 days from the application date for enrolled students. |
| Loan Disclosure link |
Please click here to view the application/solicitation Disclosure for the fixed rate loan.
Please click here to view the application/solicitation Disclosure for the variable rate loan.
|
| Lender & Loan Program |
Union Federal Savings Bank/Union Federal Private Student Loan Program
|
| Phone Number |
(866) 513-8445 |
| Website |
www.ufpsl.com |
| Eligibility |
Enrolled at least ½ time in a degree – granting program
Applicant for either loan must be U.S. citizen
or permanent resident, or an
international student with a valid Social Security
Number applying with a
qualified U.S. citizen or permanent resident cosigner. |
| Prior Balances |
Student may borrow to pay
off past due balances up to 3 months after last date of enrollment |
| Loan Disclosure link |
https://www.alternativeloan.com/CWA/ASD?link_id=UFPSL1 |
Lender & Loan Program
|
Discover Bank
Loan options include Discover Bank/Discover Undergraduate, Graduate, Health Professions, Law and MBA Loans. Both fixed and variable interest rate options are available.
|
Phone Number
|
(877) 728-3030
|
Website
|
http://www.discoverstudentloans.com
|
Eligibility
|
Undergraduate,
Graduate, Health Professions, Law and MBA students must be enrolled at
least half time and be a U.S. citizen, permanent resident or an
international student with a valid Social Security Number applying with a
qualified U.S. citizen or permanent resident cosigner.
Health Professions: In addition, students must be enrolled at least half time in an eligible health professions program.
Law: In addition, students must be enrolled at least half time in an eligible law program.
MBA: In addition, students must be enrolled at least half time in an MBA program.
|
Prior Balances
|
Not available for prior balances.
|
| Loan Disclosure link |
Please click here to view the application/solicitation Disclosure for this loan |
| Lender & Loan Program |
Sallie Mae® / Smart Option Student Loan ® |
| Phone Number |
(888) 2-SALLIE |
| Website |
https://www.salliemae.com
|
| Eligibility |
Students can be enrolled less than half-time to full-time and must be a U.S. citizen or permanent resident, or an international student with a valid Social Security Number applying with a creditworthy U.S. citizen or permanent resident cosigner. |
Prior Balances
|
Student may borrow to pay off past due balances for prior enrollment periods - up to 180 days past the last date of enrollment. |
| Loan Disclosure link |
Please click here to view the application/solicitation Disclosure for this loan |
| Lender & Loan Program |
SunTrust Bank/Custom Choice Loan |
| Phone Number |
(866) 232-3889 |
| Website |
www.suntrusteducation.com/customchoice
|
| Eligibility |
Students must be enrolled at least half-time and be a U.S. citizen or permanent resident.
|
Prior Balances
|
Available for prior balances up to one month following the end of the academic period.
|
| Loan Disclosure link |
Please click here to view the application/solicitation Disclosure for this loan |
| Lender & Loan Program |
cuStudentLoans - cuScholar Private Student Loan
|
| Phone Number |
(888) 549-9050 |
| Website |
www.custudentloans.org
|
| Eligibility |
Student must be enrolled at least half time, a U.S. citizen or permanent resident. |
| Prior Balances |
Available for prior balances up to 90 days following the end of the academic period. Borrower must be currently enrolled. |
| Loan Disclosure link |
Please click here to view the application/solicitation Disclosure for this loan
|
| Lender & Loan Program |
Wells Fargo Bank
Loan options include the Collegiate Loan (variable and fixed interest rates available), the MedCAP Alternative Loan for Health Profession degrees, and the Wells Fargo Student Loan for parents
|
| Phone Number |
(800) 658-3567 |
| Website |
https://www.wellsfargo.com/student
|
| Eligibility |
Collegiate Loan: Less than half-time to full-time status.
MedCAP: Undergraduate or Graduate students enrolled in a medical program, less than half-time to full-time status.
Applicant for either loan must be U.S. citizen or permanent resident, or an international student with a valid Social Security Number applying with a qualified U.S. citizen or permanent resident cosigner.
|
Prior Balances
|
Student may apply for prior balance within the past 12 months from the last Academic Year. Student does not need to be currently enrolled.
|
| Loan Disclosure link |
Please click here to view the application/solicitation Disclosures for these loans |
