Private loans are credit based loans that students can apply for up to the Cost of Attendance minus other aid already awarded.

Private loans are regulated by banks rather than the government so borrower benefits may vary. Students are typically required to have a co-signer as part of the loan application. 

Private Education Loan Information:

Interest Rate

Eligibility Requirements

Dates to Remember

Dependent on bank
  • Might require a valid co-signer for loan.
  • Repayment dates dependent on bank.

Many students have used Private Education Loans as low cost financing options to help cover the cost of their education. 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.

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 alphabetical order. Some lenders may not be on our lender list because they do very few loans for our students and we have insufficient information on their ability to lend to students.

Lender Website

Alliant Credit Union

Baxter Credit Union


Citizens Bank, NA

Citizens One

College Avenue Student Loans

Commerce Bank

Commerce Bank made by Sallie Mae

cuStudentLoans by Lendkey

Discover Student Loans

Elements Financial Federal Credit Union

Meadows Credit Union

Midwest Bank

Motorola Employees Credit Union

PNC Bank

Sallie Mae Bank

Sallie Mae on behalf of California Coast CU

SunTrust Bank

Thrivent Federal Credit Union

University of Illinois Employees Credit Union

Wells Fargo EFS

***Students must complete and submit the Self-Certification form to their lender to finalize their loan. Students will receive this form from their lender. ***


Visit our Loans FAQ.