Students and parents are strongly encouraged to explore all sources of financial aid funding — federal and state aid programs, university and private scholarship programs — prior to considering private student loans. Please contact the Financial Aid Office to determine your options prior to applying.
Private student loans are designed to help students and their parents bridge the gap between the cost of education and the amount of financial aid already offered (e.g. scholarships, grants and federal loans). The private loans are different from the federal loans in a number of ways:
When looking for an private loan, it is important to consider such factors as who will be the borrower (student or sponsor), the interest rate, loan origination fees, repayment terms and repayment options (deferment availability).
Private Loan Lender Information
UW Oshkosh is able to provide a preferred lender list through FASTChoice , an online comparison tool. It offers an opportunity for students to learn about alternative loans through its beneficial borrowing essentials tutorial and a side by side comparison of selected lenders. These preferred lenders were chosen based on UW Oshkosh student’s use, ease of processing, and product. A preferred lender list is not there to limit your options. It is available to give students guidance and comparison to a few widely used products. We encourage you to compare interest rates, fees and benefits to identify the most competitive options for your financial needs.
Interest Rate Information (Prime, LIBOR)
After you apply for a private loan you will need to complete a master promissory note and a self certification form with your lender. The self certification form asks for the cost of attendance, estimated financial assistance, and the loan period. All of this information is easily accessible to the student. Please use our guide to assist you in filling in this form.