Private Student Loan Options
Private Loan Comparison List
How to Apply
Processing Time
Students who need further financing beyond federal student loan eligibility should borrow only what they need and should select the loan that best meets their funding needs.
Lawrence University adheres to a Student Loan Code of Conduct as required by the Higher Educational Opportunity Act. Lawrence does not endorse or promote any specific private educational loan lender or lending program. Borrowers may choose any eligible, participating lender.
As a guide for comparing loans, we have provided a list on FASTChoice, a loan comparison tool that assists borrowers in selecting a loan that is best suited to meet their needs. You can also find a list of private student loans online at www.finaid.org/loans/privatestudentloans.
Private Loan Comparison List
Click here to use the loan comparison tool offered by FASTChoice. Lawrence University selected these lenders to be on the FASTChoice Lender List for the following reasons:
- Competitive borrower rates, terms, and incentives
- History of exceptional customer service for borrowers and staff of the university
- Timely processing of loans
- Funds are sent electronically (EFT) when possible
Remember: the Financial Aid Office will process a private education loan from any lender you choose. There may be lenders not on our list who offer different benefits that are better suited to your particular circumstances.
How to Apply
You can conduct your own research for private education loans with any lender, such as a bank or credit union. Many lenders offer an online application. The FASTChoice Lender List provides a link to the online loan application available on the lender's website.
Things you'll need to know
- 2011-2012 Loan Period: 09/12/2011 to 06/06/2012
- 2011-2012 Cost of Attendance (COA): $48,502 (this figure may vary based on the travel allowance used for you; refer to your COA in Voyager)
- Maximum amount you can request:
- First, add up all of your Other Financial Aid, this includes:
- Scholarships (from Lawrence or other sources)
- Grants (Lawrence Grant, Pell Grant, SEOG, state grant)
- Federal Loans (Stafford, Perkins, PLUS)
- Federal Work-Study or Campus Employment
- Subtract your Other Financial Aid from your Cost of Attendance
- This is the maximum amount your loan can be approved for. If you wish to increase your loan amount, you would have to reduce your Federal Work-Study or Campus Employment. Contact the Financial Aid Office regarding this option.
- First, add up all of your Other Financial Aid, this includes:
Processing Time
- We highly recommend borrowing a private loan over all terms of enrollment rather than individually for each term.
- Please allow 3-4 weeks for processing, certification, and receipt of funds. Please plan accordingly!
- The loan will not appear on your student account until the lender has confirmed credit approval.
