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Student Financial Services
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.
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