Private Certified Loans
Private Loan Options
Private Educational Loan Description
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.
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, but often private loan interest rates are lower than federal loans. Pursue all possibilities for scholarships, grants, work-study before seeking either federal or private loans.
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 review specific loan information available using the “Choose…” button below to obtain more specific information about each loan. You are encouraged to do side-by-side comparisons in making a lender and loan choice. Once you have selected a private loan, please complete the application online using the “Apply Now” button. Some lenders will also process loan applications over the telephone.
Who May Apply for a Private Educational Loan
Any HSU student, enrolled in 6 hours or more, who is a U.S. citizen, 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 loan – lending limits are higher, interest rates are lower, and repayment terms are more flexible.
In confirmation of the federal disclosure requirements of HEA Sec. 487(a)(27) and (h)), none of the lenders in the lender/loan selection system accessed by the “Choose…” button below is an affiliate of any other lender on the list.