Private Education Loan
When federal loans and other aid do not cover your cost of attendance, private or
alternative educational loans are available. Private educational loan programs are
credit based and vary by lender. Because private loans are regulated by banks rather
than the government, borrower benefits may vary and students are typically required
to have a co-signer as part of the loan application. Please contact specific lenders
to find out about terms and conditions that may apply. There are many lenders that
offer private education loans. Students have the right to select any lender that has
alternative loans. IWU will process any loan through any lender of the student's choosing.
IWU chooses not to recommend lenders to students to allow students the flexibility
of using the lender that best fits their needs. Students are encouraged to shop for
the right loan for them. To complete a private education loan application, students
should either apply online or contact the lender directly.
ELM Select is a lender comparison tool Illinois Wesleyan Uses to display our historical
lender list. Historically, over the past 3 years, students have obtained loans from
the following lenders. This list is not all encompassing and students are encouraged
to find their best option when using financing. Students are encouraged to read all
terms and conditions before applying for a private loan. The lenders in this list
appear in random order and will be in a different order every time you access this
Credible is a free online tool that allows students to compare personalized loans
from multiple lenders. Not all lenders are participating in this comparison tool
and therefore will not be represented in the outputs. Students can analyze pre-qualified
rates, terms, and eligibility rules side-by-side for those lenders that participate
with Credible in just a matter of minutes.