A Private Educational Loan can be applied for by any student enrolled at Hardin-Simmons University in a minimum of 6 hours.  Generally, the loan requires a credit-worthy cosigner.  Repayment of a Private Loan is accomplished according to the terms of the lender, however, generally, Private Loan repayments do not begin until after the student has graduated from HSU or is no longer enrolled in a minimum of 6 hours.  The amount to be borrowed can vary from a minimum of $250 (some lenders have a minimum of $200) to a maximum of the Cost of Attendance less any other financial aid.

 

WHO MAY APPLY FOR A PRIVATE EDUCATIONAL LOAN

Any HSU student, enrolled in 6 hours or more, who is a U.S. citizens, permanent residents, or international students who are temporary residents is eligible to apply for a Private Educational Loan.  Generally, a Certified Private Educational Loan is a better choice than a non-certified loans - lending limits are higher, interest rates are lower, and repayment terms are more flexible.

 

Private Educational Loans are loans through a lending institution and are not part of the federal government lending programs. Private loans can be more expensive than federal government guaranteed loans and should only be used when all other options have been exhausted. Pursue all possibilities for scholarships, grants, work study, and federal loan programs before borrowing from a private loan program.

 

Origination fees may vary and may affect the net amount you receive toward your education costs. Maximum loan amounts vary depending on which loan program you choose. Most private loans require a cosigner. Repayment of principal and interest may be deferred for most private loans. Please visit the web sites to obtain more specific information about each loan. Once you have selected the private loan you wish, please complete the application online, or over the telephone.

 

In confirmation of the federal disclosure requirements of HEA Sec. 487(a)(27) and (h)), none of the lenders on the Lender List below is an affiliate of any other lender on the list.

Click here for information on how lenders on the Hardin-Simmons lender list are chosen & ranked.