Private Education Loans, also known as Alternative Education Loans, are available to students who require additional financial assistance. These loans are offered by financial institutions, such as banks or credit unions, and are available to students with good credit or with a creditworthy cosigner. Many private lenders offer loans with both variable and fixed interest rates. With a variable-rate loan, rates and can rise or fall depending on the economy. They often have a lower beginning rate than the fixed-rate loan and monthly payment amounts change when the interest rate changes. With a fixed-rate loan, the interest rate stays the same for the life of the loan. Fixed-rate loans often have higher rates than the variable-rate loans, and have set monthly payment amounts.

When choosing a private loan, students should compare the loan terms offered by several programs in order to choose the best fit. Interest rates, fees, loan repayment schedules, and the financial stability of the lender are primary factors to consider.

The following is an alphabetical list of some private loan programs. This list is not exhaustive and Pepperdine does not prefer, recommend, or endorse any of these lenders.

LenderLoan ProgramEnrollment RequirementWill pay for a prior term account balance
Charter One Bank TruFit Student Loan Half-time Yes, within 180 days
Discover Discover Graduate Loan Half-time No
Kinecta Federal Credit Union Kinecta Private Loan Program Half-time No
PNC PNC Solution Loan Half-time Yes, within 60 days
Sallie Mae Smart Option Student Loan Less than half-time Yes, within 1 year
Sun Trust Custom Choice Loan Half-time Yes, within 30 days
Wells Fargo Wells Fargo Graduate Loan Half-time Yes, within 1 year
* The most current information can be found by contacting the lender directly.

For additional information regarding private loans and comparisons, please visit the following websites: