Private Loans

Committed to making your education affordable

Self Certification

Your lender will require you to submit a "Self Certification" regarding your understanding of your rights and responsibilities as a borrower. You'll need to know the cost of attendance and your award status to complete this requirement.

When Should You Apply for Private Loans?

It is highly recommended that you complete the Free Application for Federal Student Aid (FAFSA) and apply for any student financial aid for which you are eligible for. Private loans should only be considered after state and federal sources of financial aid have been utilized.

NOTE: RBHS students should use the school identifier 002629-23 when applying for private loans.
Helpful Tips When Considering Private Loans

Rutgers University offers reasonable no interest tuition payment plans. Before choosing a private educational loan, please consider whether a payment plan fits your financing needs.

Direct PLUS Loans are available to parents of dependent students and Graduate PLUS loans are available to graduate students. As part of the William D. Ford Federal Direct Loan Program, no bank or lender other than the federal government is needed to receive Direct PLUS Loans. As such, Direct PLUS Loans are not subject to commercial market conditions.

In some instances, a co-signer may be required to apply for a loan. You are also encouraged to review and compare all rates, terms, and conditions prior to finalizing your lending program decision.

Questions To Ask Loan Servicers

  1. Are there fees charged on the loan? If so, at what percent.
  2. How often is interest capitalized? Does the capitalization change upon entering repayment?
  3. Are there borrower benefits associated with the program? If so, what are they.
  4. How often is a statement provided summarizing loan balances, interest accrual and the expected monthly payment?
  5. How accessible are loan representatives via the phone?
  6. What are your hours of operation?
  7. How long has the company been offering educational loans?
  8. How can payments be made? i.e.,US mail, phone, with or without a fee, online?
  9. Does the program offer insurance on the loans?
How to Apply for Private Loans

Private loans can be used to fund educational programs up to the cost of attendance for a specific academic year of enrollment. These loans typically supplement an award package that includes federal loans and/or scholarships, but in some instances where federal loans cannot be awarded, private loans are used as the only source of funding.

If you are a student at RBHS, once you are approved by your selected lender, you must notify the Office of Financial Aid in writing. Include the name of the loan program selected, your name, university ID number, and the academic year the loan has been applied for.

Your private loan will be added to your award package and certified for disbursement once all supporting documents are received.