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Private Loans

  • The University of Kentucky is providing you with information regarding private loans to assist you in making an informed decision about funding your education. Before you look at private loan funding, make sure you have researched and used all federal, state, and institutional financial aid funds that are available to you. Free or lower-cost Title IV federal, state, or school student financial aid may be available in place of, or in addition to, a private education loan by filing the Free Application for Federal Student Aid. Also, we encourage you to visit ScholarshipUniverse to explore internal and external scholarships opportunities that may be available to you.
  • As you explore private loan options, keep in mind what is most important to you and select the program that meets your personal financial situation. Choosing a private loan is a long-term decision — it will be with you long after you have graduated. Being informed now could save you time, difficulties, and money later.
  • If you would like to access a comprehensive comparison chart of all lenders used by University of Kentucky students within the last three years, please click on the Private Loan Comparison Chart. The University of Kentucky does not recommend one lender over another, nor do we participate in any agreements or arrangements with any lender. You are not limited to the lenders listed on the Comparison Chart and may borrow with any lender of your choice.
  • When applying for a private educational loan, the borrower must complete a Private Education Loan Self-Certification Form and submit it to the private educational lender. This form may be obtained directly from the private lender or by clicking this Private Education Loan Self-Certification Form link. The Private Education Loan Self-Certification Form includes the following information:
    • The student's Cost of Attendance (COA) for the period of enrollment covered by the loan;
    • Any estimated Financial Assistance (EFA) for the period covered by the loan; and
    • The difference between the COA and EFA
  • Loans will not be processed for a calendar year (January-December) or for a 12-month period of any combination (May-May, August-August, etc.). The loan period will be adjusted to reflect the current academic term or last term of enrollment within current academic year.
  • Loans submitted after the term for a past due balance will only be processed for the past due amount owed.
  • Students must be enrolled in at least 1 credit hour in the term the loan is being requested for.
  • If you have questions concerning a specific private loan program, please contact the lender directly.