Private student loans provide another option to help fund your education. SOWELA Technical Community College highly encourages you to explore your eligibility through federal and state financial aid by completing the FAFSA before considering a private loan. These loans are applied for directly with the lender; however, SOWELA is required to certify your loan eligibility. Private loans are not based on financial need, but the borrower and co-signer must meet credit and other eligibility requirements set by the lenders. You may use any lender you choose. We encourage you to carefully compare rates and terms before making any decision on what loan program is best for you.
Please understand that creditors that extend private education loans will provide disclosures at the point of application and loan approval and confirmation. Loan disclosures will contain important information from Section 128(e) of the Truth in Lending Act (15 U.S.C. 1638(e)) about loan terms, and features, and must disclose information about federal student loan programs that may offer less costly alternatives. Each vendor provides loan disclosures specific to their loan program.
Private Education Loan Applicant Self-Certification Form (PDF)
