Search within:

Private Loans

Private loans are used to help bridge the gap between actual costs and financial aid programs. Private loans are funded by private, third-party lenders. Below we have provided a list of several loan companies. These are loans from which our students have chosen to borrow during the previous two aid years. You are free to choose any lender, including those not listed within the link below.

Undergraduate Student Borrowers

Parent Borrowers

Graduate Student Borrowers

Important facts about private loan programs and choosing a lender:

  • The amount borrowed cannot exceed your cost of attendance minus other financial aid.
  • Private loans are based on credit history. Student borrowers often require a cosigner.
  • Some lenders offer private loan programs for parent borrowers. It is important to note the differences between the Federal Direct Parent PLUS Loan and a private loan through a private lender. Differences in eligibility, interest rates, and repayment schedules exist between the Parent PLUS and private loans.
  • Borrowers should exhaust all possible federal and state financial aid funding options before considering private loans. Our office strongly recommends that students complete the FAFSA prior to applying for private loans.
  • Compare variable versus fixed interest rates. Be aware of estimated monthly payments after graduation or leaving school.
  • Some lenders will loan to students who are less than half time or not meeting Satisfactory Academic Progress.
  • Remember that a loan is a debt that must be repaid. We recommend that students and parents borrow wisely.

Private Loan Process:


  • Review lender options. Choose a lender and complete all required paperwork with your lender.
  • Provide all required signatures and items to the lender.


  • Sends certification request to school after the borrower completes the application and provides all signatures and items.


  • Certify that the student is eligible based on lender specified criteria.
  • Certify that the student has unmet educational expenses.
  • Place loan offer on your OHIO Student Center for you to review and accept.
  • After student accepts the offer on OHIO Student Center, we send certification to the lender.

What to Expect Next:

  • After mandatory rescission period (10-15 days), lender sends funds to the university. Funds are sent by a paper check or electronic funds transfer (EFT).
  • Please watch for e-mails from our office as paper checks often require the student to endorse the check.
  • Funds are paid directly to student account to cover any outstanding charges.
  • If a balance is owed to the student, the refund amount will be sent to the student via the Office of the Bursar. It will be sent by direct deposit or paper check.

Please Note:

  • If you need private loan funds for educational expenses not included in your Cost of Attendance, you can request a budget increase. To request a budget increase, you must schedule an appointment with your financial aid advisor. Your budget increase must be processed before you accept your private loan.
  • Our office processes loan certifications on a daily basis. We are unable to process loan certifications for the upcoming academic year until May 1. Please remember credit checks are only good for the amount of days set by your lender.
  • July through September are high volume months for all aspects of the financial aid process. At this time of the year, certification of loans may take longer than normal.
2023 - 2024 Semesters Loan Period

05/15/2023 - 08/19/2023


08/28/2023 - 12/16/2023


01/16/2024 - 05/04/2024

2022 - 2023 Semesters Loan Period

05/09/2022 - 08/13/2022


08/22/2022 - 12/10/2022


01/09/2023 - 04/29/2023




If you have questions regarding a specific private loan program, we suggest you contact the lender directly. Please feel free to contact our office with general questions at and include your PID number.