Private Loans for U.S. Citizens, Permanent Residents and International Students with a U.S. Co-signer
- Variable interest rate based on Prime or LIBOR Rate
- Offered by private lenders
- Eligibility depends on borrower's credit score
- Having a co-signer with good credit score could lower the interest rate
- Repayment typically begins 6 months after student graduates or drops below half-time enrollment
- Repayment terms range from 15-25 years depending on the lender and loan amount
- For more information and the preferred private lender list please visit our website.
Private Loans for International Students without a U.S. Co-signer
- Offered by Eli Lilly Federal Credit Union (ELFCU)
- Finance up to $85,000 ($42,500 per year)
- Variable interest rate of Prime Rate +4.25%
- Ceiling Rate of 18.0%
- 3% draw fee added to each loan disbursement.
- Flexible repayment options, including full deferment of payments while in school.
- No prepayment fee
- Repayment term 20 - 25 years depending on loan balance
- For more information please visit our website at www.uclaanderson.studentchoice.org.