Private Loans

These loans are based on the credit worthiness of the borrower, income-to-date ration and may require a co-signer. The information in the borrower’s and co-signer’s credit report will determine the interest rates qualified for. There is usually a minimum loan amount depending on the lender's requirements. The terms and conditions vary depending on the lender’s requirements. Borrowers may be allowed to defer payment of principal and interest on the loan while the student is enrolled in school. Note that you may borrow a private loan through any program that you choose. Be sure to maximize your federal loan eligibility before applying for a more expensive private student loan. Bay Path University provides a list of private loan lenders for your consideration on ELM Select.

Explore this external website for:

• Easy access to lender’s websites
• The ability to compare loan programs side by side
• Links to other helpful websites, such as loan payment calculator to help you estimate your loan payments
• Information on rates and fees for private alternative loans from lenders who have worked with our students in the past