When are the loans disbursed? 

Loans are disbursed by the lender to the University no earlier than 10 days before the start of classes each semester.

What is an origination fee? 

An amount taken off the top of the loan before the loan is disbursed (Loan Amount – Origination Fee = Amount received by school).

Why was my loan split? 

Loans are split evenly (in most cases) between semesters based on the loan period that a student is enrolled for.

What happens if my loan is denied? 

The loan is between the lender and the borrower, so the University cannot intervene on the student’s behalf. If denied, we would suggest you get a creditworthy co-signer to still get the loan.

When does interest begin? 

This is decided by the lender of the private loan, but usually interest begins immediately after the first disbursement.

When does repayment begin? 

Although most private lenders allow for in-school deferment and some even offer a grace period, some lenders do require payments while in school.

How much can I borrow in one year? 

Students are only limited to the formula of Cost of Attendance minus Other Aid Received, unless the lender has a lower yearly limit.

Can these loans be discharged in bankruptcy? 

No. Private student loans, like federal student loans, cannot be discharged in bankruptcy.

Can these loans be consolidated with my federal loans? 

No. Private student loans cannot be consolidated with federal student loans.

What lenders does the University recommend? 

The University's policy is to not recommend lenders.