Private Student Loan

• • For students: Check out Private loans at Citizens Bank, Sallie Mae Student Loans or CollegeAve Student Loans.

    Private student loans are loans through private lenders and banks.  This option is only recommended whenever federal aid and school scholarships are insufficient to cover your balance.

    The student can borrow private student loans with or without a cosigner. Both the student and the cosigner are responsible for repaying the loan.

•  For parents: Parent loan options are available through Citizens Bank and CollegeAve.

**For many more private loan vendors and information on private loans,  please visit this website here.

Please consider these federal loans first:

*Note: Federal student Loans typically have the lowest interest rates and offer more repayment plan options.

The U.S. Department of Education’s federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your loan servicer. There are three types of Direct Loans available to students who attend Mission U:

• Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
• Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
• Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

Sources: Sallie Mae Bank. Student Loans.Sallie Mae Student Loan, Citizens Bank, CollegeAve. 

Federal student aid. An office of the Department of Education. https://studentaid.ed.gov/sa/types/loans.