Private Loans

Private loans are available for students who are not eligible for federal education loans, or desire to borrow more than the federal loan limits.

As a reference to you, Harvey Mudd College students have borrowed from the following lenders during the past four academic years:

Private Education Loan Lender Cosigner Required?
Ascent Tuition Fixed Loan Richland State Bank Option available
California BPW Education Fund Loan California Federation of Business and Professional Women No
Citizens One Student Loan Citizens Bank Yes
Citizens One Student Loan for Parents Citizens Bank No
College Avenue Student Loan College Avenue Yes
Custom Choice Loan SunTrust Option available
Discover Undergraduate Loan Discover Depends on credit
MEFA Loan Massachusetts Ed Financing Authority No
RISLA Parent Loan Rhode Island Student Loan Authority No
SELF Loan Minnesota Office of Higher Education Yes
SoFi InSchool Alternative Loan SoFi Option available
Smart Option Student Loan Sallie Mae Yes
Wells Fargo Collegiate Loan Wells Fargo No

Harvey Mudd students are not required to select a private loan from this list. Students can choose to use any private loan of their choice. Check with your local banks or credit unions.

According to Truth-in-Lending Act requirements, private education lenders are required to provide prospective borrowers with private loan disclosures before they take out a private loan. These private loan disclosures will disclose to prospective borrowers basic information about loan terms and possible costs.

Below are samples of private loan disclosures:

Sample Application Disclosure
Sample Approval Disclosure
Sample Final Disclosure