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Private educational loans will require a credit check, and for students, a creditworthy co-signer is normally required for loan approval. Securing a strong, creditworthy co-signer will enable the student borrower to receive a competitive interest rate on their loan. Private loans offer variable and fixed interest rates, and a variety of repayment terms and options including paying a portion of the interest while attending school, to deferring both principle and interest until after graduation. It is important to note that capitalizing interest over the course of your college years will result in a much higher loan balance compared to a borrower paying the accruing interest while attending school.
The lending website www.elmselect.com offers unbiased information on private educational loans including the lender's contact information, loan applications, interest rates and origination fees.
Elm Select will randomize the lenders each time a user refreshes the page to remove any coincidental prioritization. Neither Quinnipiac University, nor its affiliates will give preference to a particular lender or loan program. Borrowers are strongly advised to carefully review all loan options including the terms, conditions, interest rates and fees associated with borrowing private loans. Each lender offers a customer service contact number and is happy to answer your individualized questions regarding their products and services. Quinnipiac University will gladly certify any educational loan regardless of its inclusion on the ELM Select website.
As of 2010, the Truth in Lending Act requires private lenders to provide the Private Educational Loan Applicant Self-Certification form to each borrower for completion. The form is completed directly through your private lender, however, you may review the form on the FAFSA partners website
Some lenders may also ask you to provide Quinnipiac University's OPE ID#, which is 00140200.