How To Apply

IMPORTANT NOTICE: students should exhaust all federal Title IV assistance that is available including Federal Pell Grants, Federal Stafford Loan, Federal Graduate PLUS Loan and Federal Parent PLUS Loans before considering a private student loan program. The repayment terms of federal loan programs may be more favorable than the terms of private loan programs.

Important Information

Private student loans may not be included in Federal Direct Consolidation Loans.

Private student loans are not eligible for Federal Income-Based Repayment Plans.

Private student loans are not eligible for Federal Economic Hardship Deferments.

• If you have not already done so, complete and fax the appropriate Supplemental Form to the Financial Aid Office. (For faxing instructions, visit www.usc.edu/contactfao.)
• Review your and your co-borrower's credit report to ensure accuracy.
• Apply online with the lender of your choice.  Once the lender has approved the student's credit—and that of the co-borrower, if appropriate—and received the signed promissory note and all necessary documentation, USC will be contacted for loan certification. USC processes these requests promptly.

Basic Information

Private financing programs are unsecured educational loans made by private financial institutions such as a banks or credit unions. These are loans that must be repaid with interest.

• Interest rates, origination and repayment fees for this loan program are based on the credit-worthiness of the borrower and/or co-borrower.
• Undergraduates will generally need to apply with a credit-worthy co-borrower. Graduate students may obtain better rates by applying with a credit-worthy co-borrower.
• Interest rates will vary on a monthly or quarterly basis and may not have a maximum rate.
• Repayment generally begins immediately after full disbursement.
• Some lenders may defer (postpone) repayment during periods of at least halt time enrollment and economic hardship; however, interest will accrue on the loan from the date it is disbursed.
• To reduce the cost of borrowing, consider making in-school interest or interest/principal payments.
  
• Rules for repayment and deferment vary from lender to lender. Check with your lender for more information.

Private Financing Lenders

USC has analyzed all known lender programs of this type offered to USC students. The criteria utilized to evaluate these lenders included (in order of importance) customer service, loan cost, technology, loan approval rates, lender background, borrower benefits and disclosure/transparency.  The compilation and analysis of data during the lender selection process was conducted by an independent advisory firm with USC making the final selection of lenders based solely on the best interests of borrowers.

The use of a lender on the USC list is not required. USC will process loans from any eligible lender the student selects.  USC may not deny or otherwise impede the borrower's choice of a lender or cause unnecessary delay in loan certification for those borrowers who choose a lender that is not included on the lender list below. 

The top lender programs for Private Financing programs, based on the analysis described above, are presented on this page in alphabetical order. Bear in mind that USC does not endorse or recommend specific lenders. For more information, contact the Financial Aid Office at www.usc.edu/contactfao.

Although every effort is made to provide the most accurate and up-to-date information, the content of this publication is subject to change due to alterations in federal, state, university or lender policy or procedure. The USC Financial Aid Office cannot be held liable for the consequences of such changes in policy or procedure. The most current information can be found by contacting the lenders directly at the customer service numbers provided below.

Financing Option	Lender Name	Telephone Number
Chase Select Private Loan	Chase	866-306-0870
Citibank CitiAssist Loan	Citibank	800-745-5473
Discover Certified Private Student Loan	Discover Student Loans	877-728-3030
US Bank Education Loan	US Bank	800-242-1200
Wells Fargo Collegiate Loan	Wells Fargo	800-378-5526