How can I find more information about private alternative loans?

Regulations mandate all new private loan application will require additional certifications (Title X of the Higher Education Opportunity Act). This  regulation mandates self-certification and a waiting period that may lengthen the process (the average processing time is 3-6 weeks). Once the loan is approved and a final self-certification is received by the lender, funds will be disbursed to the school after an 8 day waiting period. Please contact Office of Financial Aid if you have questions.

This program allows students, 18 year of age to borrow up to the full cost of education less financial aid. Students may defer repayment during enrollment.

Private alternative education loans are typically the most expensive borrowing option, therefore, should only be considered after eligibility for all federal student and parent loan options have been determined.

It is not Saint Joseph’s University’s practice to recommend a specific lender. Each student/parent has the right to select a lender of their choice. It is your responsibility to inform Office of Financial Aid of your choice.


Preferred lender policy

As a service to our students and families, Saint Joseph’s University provides a historical list of lenders our students have successfully borrowed with over the past several years.  Click here to learn more about private education loan information.

Students and families have the right and ability to select the education loan provider of their choice, are not required to use any of the lenders current students utilize, and will not be penalized for choosing another lender. Saint Joseph’s University will process a loan with any lender a borrower chooses.

As the rationale for choosing a loan is complex, Saint Joseph’s urges families to use an educated approach to determine the best product for them. Criteria used for considering loan products:

  • Loan terms including interest rates, loan fees, and approval rates
  • Borrower benefit including guaranteed and earned benefits
  • Loan Processing including electronic processing, ease of loan application, and loan approval times
  • Customer service commitment to the borrower

Once a loan has been approved, it is the student’s responsibility to notify the Office of Financial Aid with the lender information.

Please feel free to contact Office of Financial Aid if you have any questions.


Private education loan information

Click here to learn more about private education loan information.