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 (PDF) as required by the Higher Educational Opportunity Act. Lawrence does not endorse or promote any specific private student 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

FASTChoice Private Loan Comparison List

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 student 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

1. Search for a Private Student Loan

You may conduct your own research for private student loans with any lender, bank or credit union. Many lenders offer an online application. You may also use the following resources to find a lender:

2. Determine how much you can borrow

  • First, add up all of your 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 Financial Aid from the Cost of Attendance (PDF) (Direct Costs + Estimated Expenses)
  • This is the maximum amount your loan can be approved for. If you want to increase your private student loan amount, you would have to reduce your Federal Work-Study or Campus Employment. Contact the Financial Aid Office regarding this option.

Processing Time

  • We highly recommend borrowing a private student loan over all terms of enrollment rather than reapplying for an individual loan each term.
  • Plan. Please allow 3-4 weeks for processing, certification, and receipt of funds.
  • The loan will not appear on your student account until the lender has confirmed credit approval and sent a certification request to Lawrence.

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