Private Loans

Jenifer Bartz, UCSC student, doing researchPrivate loans are funded by banks, credit unions, or other private lending institutions. Private loans serve as an alternative funding resource, but typically do not include many of the benefits that federal students loans do such as deferment provisions, fixed interest rates, and income-based repayment plans. We encourage all students who are considering private loans to first submit a FAFSA and learn about their eligibility for federal loans before applying for a private loan.

Compare Private Loans to Federal Loans

Loans offer you the opportunity to cover the cost of your educational expenses. It is important to explore all options and find what works best for you and your family. The Federal Plus Loan & Private Student Loan Comparison Chart provides you with additional information on the differences between the Federal PLUS Loan and Private Student Loan options for those families who demonstrate creditworthiness and wish to explore alternative options that may better suit your family financial situation.

Compare Private Loans

When choosing a private loan, there are many factors to consider including the fees the lender charges to make the loan, the interest rate, repayment terms, and deferment options. To assist students and their families in this process, the University of California has created the following lists which were developed specifically for UC students. These include a few of the highest-rated lenders:

Private Lender List Available on ELM Select!

Lenders are required by federal law to collect the Private Loan Certification Form. If you plan to apply for a private loan, complete and submit this form to your lender. For information on the University of California Code of Conduct in regard to preferred lender arrangements, click here.

Other Loan Options

Interest-free loans are available to Jewish students enrolled full-time in undergraduate or graduate programs, professional programs, or vocational schools.