Private Loans

 
  • We encourage students to use their federal aid eligibility before using private loans
  • Check with the Financial Aid Office for more information
  • Private or “Alternative” loan programs are typically available through banks, credit unions and some other private loan companies
  • Depending on a student's specific circumstances, various types of loan programs may be available
  • Students are able to apply for many of these programs directly online
  • Some students pursue a private loan option in order to avoid the federal loan process, which among other steps requires completion of the Free Application for Federal Student Aid
  • However, all students are eligible for a Federal Direct Student Loan with very few restrictions, and federal loans are generally less expensive, have favorable terms and conditions, and have the backing of the Federal Government
  • The terms, conditions, and eligibility requirements vary for private loans, and the borrower (and co-borrower, if applicable) should carefully research and consider their options and apply for the private education loan that best suits their needs
  • In order to qualify for a private loan, borrowers must pass a credit test and may need to have a co-signer

Which Lender Should You Use?

  • APUS highly recommends that all students seek loans to compare from four primary resources whose availability may vary by your affiliation and/or location

    • Your current bank may operate a private educational loan program
    • Your local credit union may provide this resource – you may only need to join to be eligible to apply
    • Your state higher education agency may offer a program to state residents. Click NASSGAP for a list of state higher education agencies
    • A fourth resource for students is a national lender whose primary requirement is that the applicants meet certain credit criteria
  • Below is a list of currently active lenders that have provided private education loans to APUS students during the past several years
  • APUS does not prefer, recommend, promote, endorse, or suggest any lender
  • You are not required to borrow from any of the lenders listed below
  • You are free to obtain a private education loan from any lender, and there is no penalty for selecting a lender that is not identified on this list
  • The vast majority of APUS students take advantage of more favorable rates and terms found in the Federal Direct Student Loan Program
  • As a result of this and coupled with the market decline in private student loan availability, the list of active private loan lenders that our students have used is short

  • For information on a different alternative loan, please visit your local bank or credit union or contact your state higher education agency or click here for a list managed by Finaid.org , a respected national student aid website
  • Please note: Only direct costs, course materials for graduate students, and technology expenses are considered when certifying loans for APUS students
  • Those who would like course material or technology expenses included in their loans e-mail the Financial Aid Services Office once they have applied and been approved for a student loan
  • Students must also be registered for classes so that our financial aid office staff can certify all loans to meet accurate educational costs
Need Help with Financial / Tuition Assistance?

- Watch brief videos with answers to many of your financial assistance questions on Financial Aid TV
- Attend an online Financial Aid Orientation session with the experts
- For additional assistance, contact our Financial Aid Help Desk:  877-372-3535 | Send an e-mail
 

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