The University of San Francisco: Online Education

Private Student Loans

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.

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.

Private loan applicants are now required to submit a Private Education Loan Applicant Self-Certification Form to their lenders as part of the loan process.  It is highly recommended that student borrowers use the Self-Certification form provided to them by their lender, as that form may have an important loan applicant ID number printed on it.  However, the form is also available through this web site by clicking on the link above.

The Self-Certification form requests basic information about the student, as well as the student's cost of attendance, estimated financial assistance, and the period of enrollment covered by the loan.  Please click here for instructions on how to obtain that information easily through USFConnect. 

The USF Private Loan Comparison will assist you with the lender selection process and will provide links to apply on. 

Additional information on borrowing through private loans can be found by clicking on any of the links in this section. 

Glossary of Terms may help you understand the terminology frequently used in the loan industry.
Questions to Ask offers some basic tips in selecting an alternative loan. Your credit is a key element in determing a credit-based loan approval offered by lenders
Interest Rates provides explanation on the different rates lenders charge for a particular alternative loan. Calculators will help you determine your monthly loan payment.

Students in need of non-certified private loans (loans beyond cost of education, or students enrolled in non-sponsored study abroad programs)

Non-Certified private loans are an option available to students who wish to borrow more loans than they would normally be allowed to under their cost of education.  In addition, non-certified private loans may also be an option for students who will be attending an External Study Abroad program and are on leave of absence and not eligible to receive institutional grants/scholarships, federal and state grants/loans**. There are certain private lending institutions that offer private student loans that do not require a school’s certification however these loans may be more expensive than other student loans and should only be considered if no other options are available.

 If interested, the following lender has verified that they offer non-certifiable private student loans to only be considered by students enrolling in a non-sponsored study abroad program or those students interested in borrowing beyond the cost of education.  All other students should view the USF Private Loan Comparison for many more loan options. As always, you are free to contact any lender not on this or any other list to inquire about available loan products: 

Wells Fargo    (800) 658-3567    Education Connection Loan

 Visit this lender's web site for additional information and application.

** Federal Stafford student loans will enter repayment in six months from the last day of a student’s half-time (or more) enrollment status at USF. In order to defer repayment, student must file an In-School Deferment with the host school (if host school participates in aid programs) or Forbearance if host school does not have an OPE-ID. For more information, and to download deferment forms, visit the Federal Direct Loan Servicer’s web site: (click on “forms” to get a list of Deferment and Forbearance forms)