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 vendors during the past four academic years:

Private Education Loan Lender Cosigner Required?
Citizens One Student Loan Citizens One Yes
Custom Choice Loan SunTrust Option available
Discover Certified Private Loan Discover Depends on credit
SELF Loan Minnesota Office of Higher Education Yes
SESLOC FCU Private Education Loan (only for existing customers) SESLOC Federal Credit Union Depends on credit
Smart Option Student Loan Sallie Mae Education Trust 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