Private Student Loan Steps

Private Student loans (Alternative Loans) are non-Federal loans where lenders provide specialized student loans with reasonable terms for U.S. citizens, nationals, permanent residents, and international students who have a credit-worthy, U.S. citizen cosigner who have decided not to borrow from the Federal loan program. See below the steps you must take in order to apply for an alternative loan, as well as a list of alternative loan lenders you may consult. 

How to Apply

  • Review the lenders and terms.
  • Complete an Alternative Loan Application with the lender of your choice.
  • Complete a Private Education Loan Application Self-Certification and return it to your respective lender along with your alternative loan application.
  • Complete Alternative Loan Request Form

Most alternative loan funds are sent to the University via an electronic disbursement method and applied directly to your tuition account. If your lender sends your funds via paper check, someone from the Office of the Bursar will contact you with directions.

The University of Chicago does not have a preferred-lender listing for private loans. We recognize that you have many choices when contemplating a private loan; therefore, we have provided information of those lenders that the University of Chicago students have utilized in prior years.  This list is not all-inclusive and you are not required to use any of the lender listed on the the university's Alternative Loan Steps webpage.  You may choose a lender that best meets your needs and requirements in financing your graduate education.  In addition to the list on the Alternative Loan Steps webpage, you can use general Internet search engines to research private loans.