As always, taking on debt for any reason should be done deliberately and only for the amounts needed. If you plan to borrow a Private Educational Loan, you will need to select a lender. The lender is the institution from which the money is actually borrowed.

All lenders are not the same. It pays to make an informed decision when selecting a lender. You will be entering into a long-term relationship with the institution. Reasons for selection of a particular lender vary from person to person. Some choose based on name or brand recognition or reputation. Others prefer the immediate benefit of below-market processing fees. Still others are interested in borrower benefits in repayment, like an interest rate reduction as a reward for making consecutive on-time payments. We encourage families to use the lender and the loan product that best meets their needs.

As part of the application process, students will be required to complete the Private Education Loan Applicant Self-Certification Form available through their lender’s website. Information needed to complete this form, such as cost of attendance, may also be obtained from my.Centenary.