Private Loans

We encourage you to begin the application process three to four weeks before your payment is due at C-SC. This is to ensure there is sufficient time for the lender to process your application, and for you to turn in any requested paperwork to the lender. This also allows the financial aid office time to certify the loan, as it can take up to two weeks to add the loan to your account during peak processing times.

It is best to set up your funding for the academic year to include both the Fall and Spring semesters, from August to May. Note: Summer terms always require a separate application.

Choosing a lender is an important financial decision and there are many factors to company among the lenders. It is very important that you research each option before selecting a lending company. Here are the important factors to compare:

• Interest rates – Determines how much you pay to borrow money
• Origination fees – A percentage or flat rate charged to borrow a loan
• Whether payments will be required while you are in school.
• The possibility of a release for any co-signor. This is usually determined by the lender with restrictions such as the payment of a number of on-time payments, your credit score and history.
• Customer service can vary among lenders so research the company’s reputation.
• Repayment plans will vary by lender. Research whether payments are required while you are in school, if there is a grace period after graduation, and determent/forbearance if you are having financial trouble while you are in repayment.