{"id":106,"date":"2022-07-27T21:49:01","date_gmt":"2022-07-27T21:49:01","guid":{"rendered":"https:\/\/www.lvc.edu\/admission-aid\/private\/"},"modified":"2025-09-24T16:18:18","modified_gmt":"2025-09-24T20:18:18","slug":"private","status":"publish","type":"page","link":"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/","title":{"rendered":"Private Student Loans"},"content":{"rendered":"<section\n    class=\"\n        basic-hero\n                    basic-hero--no-image\n            \"\n    >\n        <div class=\"basic-hero__inner\">\n        <h1 class=\"basic-hero__heading\">\n            <div class=\"basic-hero__heading-text-container\">\n                                    <span class=\"basic-hero__heading-text \">Private Student Loans<\/span>\n                            <\/div>\n        <\/h1>\n        <div class=\"basic-hero__breadcrumbs\">\n                    <\/div>\n    <\/div>\n<\/section>\n\n\n<section\n    class=\"body body--white body--line-left body--line-left-yellow body--line-left-full \"\n    >\n    <div class=\"body__container\">\n                <div class=\"body__content\">\n            <div>\n<p><strong>Have you exhausted your maximum borrowing eligibility through the Federal Direct Subsidized\/Unsubsidized Loans, as well as considered the Parent PLUS Loan? If so, you may want to consider a private student loan through a non-federal loan program.<\/strong><\/p>\n<p>The student is the borrower for private loans; however, in almost all cases, a credit-worthy cosigner is required. Having a credit-worthy cosigner will also likely reduce the cost of the loan (interest rate). Please be aware that the cosigner is fully responsible for repaying the loan should the borrower stop making payments. Most private loan products offer a cosigner release option after a specified number of on-time payments are made and the borrower is credit-worthy.<\/p>\n<p>The Financial Aid Office strongly encourages you to borrow the Federal Direct Subsidized\/Unsubsidized Loans first and then consider the Federal Direct PLUS Loan before applying for a private student loan. The interest rate and repayment terms may be more favorable than those of private loans.<\/p>\n<p>The borrower and\/or cosigner are responsible for repaying these loans. For a sample repayment schedule, contact the lender of your private student loan.<\/p>\n<\/div>\n\n        <\/div>\n            <\/div>\n    <\/section>\n\n\n<section\n    class=\"body body--white \"\n    >\n    <div class=\"body__container\">\n                    <div class=\"body__heading\">LVC&#8217;s Recommendations for Private Student Loans: ELM Select<\/div>\n                <div class=\"body__content\">\n            <div>\n<p>The loan products included on this site are recommended by LVC by undergoing a Request for Information (RFI) process. This process is completed every 2 to 3 years to determine who should be listed on our recommended lender list. Information is requested from 10-12 lenders, which is then reviewed to narrow the list down to what we deem as the top 4 to 5. The following criteria are reviewed and evaluated for each lender:<\/p>\n<ul>\n<li>Competitive Interest Rates and fees<\/li>\n<li>Flexible Repayment Options<\/li>\n<li>Cosigner release option and the time frame for it to be considered<\/li>\n<li>Monetary back-end benefits<\/li>\n<\/ul>\n<p>Please be aware that you are not required to borrow from any of the lenders on our list.\u00a0 You are free to conduct your own research and comparison of private loan products and select any lender of your choice.<\/p>\n<p>Below is a list of lenders included on LVC&#8217;s customized ELM Select website along with information each lender is required to share with potential student borrowers. To compare loans among these lenders, please visit\u00a0<a href=\"http:\/\/www.elmselect.com\/?schoolid=169\" target=\"_blank\" rel=\"noopener\">LVC&#8217;s ELM Select<\/a>\u00a0webpage.<\/p>\n<\/div>\n\n        <\/div>\n                    <div class=\"body__links\">\n                                                                                                                            \n<a\n            href=\"http:\/\/www.elmselect.com\/?schoolid=169\"\n        target=\"_blank\"\n            class=\"\n        base-button\n        base-button--yellow\n            \"\n>\n    <span class=\"base-button__text\">\n        ELM Select\n    <\/span>\n    <svg width=\"1\" height=\"1\" class=\"base-button__arrow\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16.15 16.15\" aria-hidden=\"true\"><path d=\"M9.23,3.11l-.77.82,3.4,3.64h-9V8.74h9.05L8.46,12.41l.78.82L14,8.17Z\" stroke=\"none\"\/><circle cx=\"8.08\" cy=\"8.07\" r=\"7.5\" fill=\"none\" stroke-miterlimit=\"10\" stroke-width=\"1.15\"\/><\/svg>\n<\/a>\n                                                <\/div>\n            <\/div>\n    <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":1125,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-106","page","type-page","status-publish","hentry"],"acf":{"section_menu":194,"language":"en","alternate_language_urls":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Private Student Loans - Admission and Financial Aid<\/title>\n<meta name=\"description\" content=\"Students may want to consider a student alternative loan through a non-federal loan program if they have exhausted their maximum borrowing eligibility through the Federal Direct Subsidized\/Unsubsidized Loans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private Student Loans - Admission and Financial Aid\" \/>\n<meta property=\"og:description\" content=\"Students may want to consider a student alternative loan through a non-federal loan program if they have exhausted their maximum borrowing eligibility through the Federal Direct Subsidized\/Unsubsidized Loans.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/\" \/>\n<meta property=\"og:site_name\" content=\"Admission and Financial Aid\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-24T20:18:18+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/\",\"url\":\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/\",\"name\":\"Private Student Loans - Admission and Financial Aid\",\"isPartOf\":{\"@id\":\"https:\/\/www.lvc.edu\/admission-aid\/#website\"},\"datePublished\":\"2022-07-27T21:49:01+00:00\",\"dateModified\":\"2025-09-24T20:18:18+00:00\",\"description\":\"Students may want to consider a student alternative loan through a non-federal loan program if they have exhausted their maximum borrowing eligibility through the Federal Direct Subsidized\/Unsubsidized Loans.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.lvc.edu\/admission-aid\/financial-aid-costs\/loans\/private\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Financial Aid &amp; 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