Apply for a Private Student Loan

How do I Apply for a Private Student Loan?

You and your co-signer will need to complete the private loan application process, which is generally available online. Each private loan lender program varies as to their product specifications and underwriting criteria. As an example, consider College Loan Corporation’s private loan, called the CLC® Premier Loan™:

CLC Private Student Loan Details

• Quick, easy online application process
• Receive up to 100% of your school’s cost of attendance, minus any other financial aid received
• Minimum private loan amount $1,000
• Yearly private loan maximum $40,000
• Requested private loan amount is certified by your school

CLC Private Student Loan Eligibility

• Must be at least 18 years of age (or the age of majority in your state) and attend at least half time
• U.S. citizen or eligible non-citizen
• Borrower and/or co-borrower must pass credit evaluation

CLC Private Student Loan Repayment

• 0.25% interest rate reduction for enrolling in automatic payments (ACH)
• Graduated repayment option available (interest-only payments for the first two years)
• Combined billing with federal loans may be available
• One Call Promise® service commitment
• May apply for credit-based, co-borrower release after making any 24 consecutive, scheduled payments on time and borrower independently meets credit and eligibility criteria for the loan

Although College Loan Corporation is not currently accepting applications for new private loans due to the current credit crisis, please check back with us often at www.collegeloan.com. We hope that you will look to us as your private loan source for your future college funding needs.

Info You Will Need to Apply for a Private Education Loan:

• Your personal information (email, phone, school, etc.)
• Your Social Security Number
• Your temporary, permanent and prior addresses
• Your driver's license
• Your income information if you are employed

Info Your Co-signer Will Need to Apply for a Private Education Loan:

• Social Security Number
• Temporary, permanent and prior addresses
• Driver's license
• Housing expenses info
• Proof of income (bank statements or pay stub)
• Employer information
• Personal contact information (phone, email)