Private Loans

Private loan programs are non-federal educational loans through a private lender that allows student to borrow additional funds after federal student aid has been exhausted. Students should apply for a private loan with a creditworthy co-signor to ensure the best rates, terms, and approvals.

Each lender has different eligibility requirements, interest rates, fees, and repayment terms. For example some lenders may require students to be enrolled at least half-time in a degree granting program, while different lenders may lend to a student that is non-degree or enrolled less than half-time. Some lenders require payments while students are still in school. Private loans cannot be consolidated with federal loans for payment purposes.


  • It is in your best interest to borrow the maximum amount of federal student loans before you borrow from a private lender.
  • Do not apply too early for a private loan because lenders have an expiration date on the credit check and your application will not be certified until after you are registered for classes and have been packaged for all federal and state financial aid. Do not submit your application until after June 1st for the upcoming academic year (fall and spring semesters) but prior to the 3rd week of July to have funds available for your fall bill. If you are applying for the spring semester only, please complete your application between October 15th and December 1st.
  • A separate loan application is required for the summer term and for each academic year.

You have the right to select the private lender of your choice. The following link for ELMSelect is a private loan search engine where you can search and compare different lenders and loan products. Neither WVU nor the Financial Aid Office intends any specific endorsement of these lenders.


Private Loans available by State Agencies

The following is a list of state agencies that offer private loans to their residents that have been received by students attending WVU: