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Private / Alternative Student Loans


Varies (Up to Cost of Attendance)


A private education loan is a non-Federal loan borrowed from a bank or lending institution. It is recommended that all other sources of financial aid be exhausted first.


We recommend that you and your family review all your funding options and then determine the best one/s for your situation. It is best to exhaust all of your Federal financial aid options before considering a private education loan.

Some things to consider:

  • A private education loan is a non-federal loan borrowed from a bank or lending institution. 
  • Loan terms, rates and fees vary upon the lender.
  • Interest rates and fees are based on the borrower's credit score and/or the co-signor's credit score. 
  • Most dependent students will not be able to obtain a private loan without a qualified co-signor.
  • Private Education loans may offer lower rates compared to the Federal Loan Programs, however, you may be subject to interest rate risk if choosing a variable interest rate private loan. 
  • Private education loans may not offer comparable deferment, forbearance, and repayment options to the Federal Loan Programs.  Therefore it is up to the student and/or the parent to determine which type of loan suits the needs of the family's situation.

Students may choose any lender who offers alternative education loans.  There are many local and regional lenders and credit unions offering private education loan programs.  We encourage students to do their own research to determine which loan program is best suited for their needs.

The list of lenders displayed have provided Doane University students private education loans within the past three years.  The inclusion of a loan product or lender on this site does not imply endorsement.  Doane University does not endorse any loan product or lender.

Private Loan Lenders and Information

Renewability & Repayment

You must renew each year with the lender of your choice.

Scholarship Process

Disclosure Statement for Borrowers with Private Education Loans

Doane University does not make private education loans to students; however, students may obtain private education loans from a commercial bank or other type of private lender.

The lender must provide the student disclosure statements:

  • at the time application for the loan is made.
  • at the time the loan is approved.
  • prior to disbursement.

You have 30 days to accept the loan from the time it has been approved. The lender will instruct you on how to accept the terms of the loan. The lender will send another disclosure form 3 days (6 days if by postal mail) prior to loan disbursement. You will have 3 days to contact your lender to cancel the disbursement.

You must complete a Self Certification Form and are responsible for returning the form to your lender (not Doane).  

Your loan cannot be disbursed until the Self Certification Form is returned to your lender and all loan requirements have been met. 

You are responsible for ensuring all proper documentation has been returned to the private education lender.