Financial Aid

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

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 site.

ELM Select

Credible

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.

Credible