Private Alternative Loan Options
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IMPORTANT NOTE: It is our firm belief that families should borrow only when absolutely necessary, and then only to the extent needed. We encourage that serious and deliberate consideration be given to making any borrowing decision. We recommend that you examine all other options, including the federal student loans, before pursuing private loan options, as these loans may be more expensive than other options. The interest rates listed for private loans are usually variable, and monthly payments are extended over several years. Private loans are credit-based and may require a cosigner. If you are not enrolled at least half time, you would not be eligible for federal loans and a private loan may be a viable funding option for you.
Federal regulations now require the completion of a Private Education Loan Applicant Self-Certification form for all private education loans. Student borrowers are required to obtain the form and the information needed to complete it from their institution, sign the form and submit it to their lender. The private loan application and disbursement process cannot be completed until the signed Private Education Loan Applicant Self-Certification form has been received by the lender.
If you wish to apply for a private alternative loan, you may obtain the Private Education Loan Applicant Self-Certification form from the Loan Area of the Office of Student Financial Aid and Undergraduate Scholarships. We will assist you in completing the required form. Some lenders will prompt you to complete this form as part of your online application process.
Below is a list of private alternative loan lenders through which Vanderbilt University students have borrowed during the past three award years. The lenders are listed in alphabetical order, and the information provided is accurate to the best of our knowledge. You may choose to borrow through any lender, including lenders not on this list. If you choose to borrow through a lender that is not on this list, we will process your application and certify your eligibility with that lender.
- Charter One
- CHESLA Loan Program/Firstmark Services
- Cinco Family Financial Center Credit Union
- Fifth Third
- Kentucky Advantage
- Mississippi Conference - United Methodist Church
- Nassau Educators Federal Credit Union
- New Jersey Class Loan
- Pentagon Federal Credit Union
- PNC Bank
- Sallie Mae
- SoFi Lending Corporation
- Student Loan Foundation of North Carolina
- Tennessee Conference - United Methodist Church
- TLC Community Credit Union
- Union Federal Savings Bank
- Wells Fargo