Private Education Loans
Private Education Loans are obtained from various financial institutions. They are not guaranteed by the federal government and interest generally begins to accrue from the date of disbursement. Private Education Loans usually require a credit worthy co-signer. The student may borrow up to the cost of education less all other financial aid received.
Also remember that it is always in the best interest of the students and parents to explore federal student and parent loan options before applying for private loan products.
Click here to view a detailed comparison chart on our preferred lenders for Private Education Loans.
Congress has recently mandated that private loan lenders require borrowers to complete a Private Education Loan Applicant Self-Certification Form when requesting any private education loans. The self-certification form must be submitted to your lender. Forms should NOT be sent to Fordham University. It must be completed by the borrower and sent to the lender that you are applying with. While we cannot fill out this form for you, we can give you the information needed to complete the form.
Your cost of attendance and estimated financial assistance are needed to fill out section 2 of the form. They are available in the financial aid component of your my.fordham.edu account. To access it, log in to your my.fordham.edu and click on the financial aid login to access your account. Click on the "Messages" tab. There will be a message labeled, "Please use this information to fill out your Private Education Loan Applicant Self-Certification Form." This message lists your personalized cost of attendance and estimated financial assistance. You will also have to write in the difference between these two figures on line C.
Once the form is complete please return it to your lender.
For more information please visit our Private Education Loan Self Certification web page by clicking here.
Please review the following process carefully:
1. To apply for a Private Education Loan with one of our premier lenders, link to the lender of choice and complete the application on-line. Although Fordham lists the preferred lenders below, you may choose any lender you wish. Please visit their website directly and follow the instructions provided.
2. For information on choosing a lender, click here.
3. After completing your loan application, your lender will review the application and complete a credit check.
4. The lender will send Fordham University a request for certification of your eligibility status.
5. Fordham will certify the loan request from the lender.
6. The lender will issue final approval for the loan.
7. All loans are disbursed in two disbursements. Once at the beginning of the loan period and once at the midpoint of the loan period.
8. Upon receipt, the funds will be applied to the student’s account and any remaining credit balance refunded to the student.
*Chase requires that either the student borrower or the cosigner be a Chase customer with a qualifying account or loan relationship, or be a Chase employee. Click here for further details.