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
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
Go to FastChoice website to compare your loan