Skip to main content

Private Loans

PRIVATE LOANS:

A small number of US lenders provide Private Education Loans for students studying at foreign schools. These loans are credit-based and generally require a good credit rating. Students with poor credit can be required to use a credit-worthy co-signer in order to secure a private loan. Private loans are not subject to the same regulations that govern the administration of US Federal Loans, and the SAR is not required. Most private loans are subject to loan fees which are added to the loan amount before interest rates are applied.

Note:  You should study the Terms & Conditions of the loan very carefully and consult the lender if you require further clarification, before you submit an application.

Loan Amounts:

Private loan amounts can vary, depending on the lender and the type of loan. Some lenders offer loan amounts up to the full COA (less other Financial Aid), while others impose maximum limits, regardless of COA.

© University of Limerick 2017