Important information for students planning to borrow a private education loan:
Because of new Federal regulations, the time that it takes to process a private education loan has increased. Lenders are now required to collect more paperwork from you. In order for your private loan to be processed on time, you must begin the application process sooner than in the past.
For information on private education loans (alternative loans), please see the FastChoice Website
The lenders and loan options presented were selected for the excellent terms and benefits they provide to borrowers. Our institution has worked with these lenders in the past, and previous borrowers had positive experiences working with them.
To determine which lenders and loan options to present, we use strict criteria based on your interests and not those of our institution. We recognize only those lenders who provide you with exceptional customer service, excellent incentives (e.g., low interest rates, no origination fees, and loan principal reductions), timely processing, and electronic funds transfer capabilities when possible.
All of the information provided on the Loan Options page is reviewed annually to ensure that the benefits that lenders offer continue to adhere to our criteria. Any loan options that no longer adhere to our criteria are removed, and new loan options that meet our criteria are added. At least three lenders will be presented to you at all times.
You are free to select any lender and loan option, including those not presented. If you choose a loan option that is not presented, please follow the provided instructions to complete the application process. Application processing will not be delayed unnecessarily if you choose a loan option not presented.
We maintain professional relationships with all lenders. Our officials are prohibited from accepting financial or other benefits in exchange for displaying lenders and loan options in FASTChoice.
These include: receiving compensation to serve on any lender board of directors or advisory boards; accepting gifts including trips, meals, and entertainment; allowing lenders to staff our institution's financial aid office; allowing lenders to place our institution's name or logo on any of their products; and owning lenders' stock (for those college officials who make loan decisions for our institution).