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Private Loans


ATTENTION Private Loan Borrowers: New federal, private loan disclosure requirements have extended the average processing time of a private loan to 10 days and increased the number of forms required to apply. DO NOT wait until the first week of classes to apply! If you do, you may risk deregistration for unpaid charges.

Alternative educational loans are private loans (non-federal) offered through banks to supplement financial aid awards. Nazareth College is required to certify these loans to ensure that the loan amount does not exceed the cost of attendance less all other financial aid. Most alternative loans are disbursed equally into student accounts according to enrollment plans. We encourage students and families to use alternative loans as a last option after first pursuing all federal loan options. If you decide that an alternative loan is right for you, you may borrow from any lender that you choose. When choosing a lender for an alternative loan, you may wish to consider the following factors:

  • Loan costs (interest rates and fees)
  • Borrower benefits and discounts
  • Customer service

Student Lending Analytics (SLA), an independent and advisory firm with NO affiliations with any student lenders, provides additional information on alternative loans and guidance on selecting a lender. The information can be found here. We encourage students to review information on at least the factors listed above when choosing a lender for an alternative loan. For additional information regarding responsible student loan borrowing and evaluating student loan lenders, visit the responsible student loan borrowing page.

You may also want to consider applying for a private student loan through a credit union. A credit union might be able to offer you a loan with an affordable interest rate, zero origination fees, and flexible repayment options. Presently more than 80 credit unions are participating with Credit Union Student Choice, a group that helps credit unions offer private student loans. For additional information, please go to

When applying for your loan, remember to request the amount of funds for the full academic year. During your private loan application process, you will be required to complete a Private Education Loan Applicant Self- Certification Form.  Please complete this form and return it to your lender, as soon as possible, to ensure timely processing of your loan.  Once your application is complete with an approved credit check and a Private Education Loan Self-Certification Form,  we will certify your eligibility and schedule the disbursement of funds directly into your student account. Credit checks on alternative loans are only valid for a period of time that is determined by the lender. In many cases, the lenders use 180 days. An application completed too soon before the start of your first term may not be valid.


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