Private Student Loans

After exhausting the opportunities available from the federal aid programs, students may consider private loan programs as a source of funding.

The terms and conditions of these credit-based loan programs vary, and as such, students are encouraged to review the details of the programs before selecting a private loan program. Private loans are not eligible for loan consolidation programs made available for federal student loans. Interest rates, fees (both at the time of borrowing and at repayment), credit checks, and annual and aggregate loan limits require careful evaluation by the student as a consumer.

As always, taking on debt for any reason should be done deliberately and only for the amounts needed. Additional information is available from the Department of Education publication, Federal Aid First.

Suggested Private Loan Programs - for students

The lenders included in the Elm Select Comparison Tool have made loans to Notre Dame students in the past and offer:

  • Competitive interest rates
  • Limited fees and/or borrow discounts during repayment
  • Electronic application processing and fund delivery
  • Loan servicing until paid in full
  • Excellent customer service
  • Long-term commitment to educational financing

The lenders are listed randomly. Students are not required to borrow only from one of the loan programs shown in Elm Select and are encouraged to review the terms and conditions of each program prior to selecting a lender. The criteria listed above will be reviewed periodically to determine if loan programs may be added to, or removed from, the list of programs.

To assist in your selection of an appropriate private student loan, we suggest you use the Elm Select Loan Comparison Tool.

Suggested Private Loan Programs - for parents

The lenders included in the Elm Select Comparison Tool have made loans to Notre Dame parents in the past and offer:

  • Competitive interest rates
  • Limited fees and/or borrow discounts during repayment
  • Electronic application processing and fund delivery
  • Loan servicing until paid in full
  • Excellent customer service
  • Long-term commitment to educational financing

The lenders are listed randomly. Parents are not required to borrow only from one of the loan programs shown in Elm Select and are encouraged to review the terms and conditions of each program prior to selecting a lender. The criteria listed above will be reviewed periodically to determine if loan programs may be added to, or removed from, the list of programs.

To assist in your selection of an appropriate private student loan, we suggest you use the Elm Select Loan Comparison Tool.