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Private Student Loans

Private loans may be necessary if government-subsidized loans are not adequate or available to cover college costs.

About Private Student Loans

Private loans are designed to help students who need additional assistance with educational costs. In most cases, it is advantageous for parents to pursue Federal Direct PLUS Loans or an independent student to pursue an Unsubsidized Stafford Loan before seeking a private loan. A major advantage of these two programs is that the federal government caps the interest on the loans.

If a student still needs assistance beyond what is available through these loan programs, there are a number of private lenders who offer supplemental loans to cover educational expenses. The private loans listed below are not based on need, and they can replace a portion of the Expected Family Contribution. Loan approval is generally based on creditworthiness and ability to repay. The maximum that may be borrowed is the difference between cost of attendance and other financial aid.

Each lender offers different rates, fees, repayment terms and approval requirements. Rose-Hulman suggests students carefully investigate the loan terms and conditions before choosing a lender. Rose-Hulman does not endorse any of the following lenders, and you are not required to borrow from one of the loans listed below. These merely represent the lenders which our current students utilize. We highly recommend you select the lender that fits your needs and wants.

Due to recent legislative changes, students applying for a private educational loan are required to complete the Private Education Loan Application Self-Certification Form available through lenders' websites. You will need to know the cost of attendance at Rose-Hulman.

Go to FastChoice website to compare your loan options.

Go to INvestEd website to compare your loan options.

Go to FastChoice-Consolidation website to compare your loan consolidation options.

Melinda Middleton

Melinda Middleton

Melinda Middleton oversees Rose-Hulman’s Office of Financial Aid as the department’s director. She and the rest of the Financial Aid staff can help you make sense of the loans, grants and scholarships available. They take pride in helping our students find ways to make a Rose-Hulman education an affordable investment in their future.

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Contact Us

Office of Financial Aid
Hadley Hall 104
Rose-Hulman Institute of Technology
5500 Wabash Avenue
Terre Haute, Indiana 47803
Phone: 812-877-8672
Fax: 812-877-8838
finaid@rose-hulman.edu