Applying for Private Education Loans

Step 1: Select any Lender and Apply

Select and apply with any lender you wish even if the lender is not shown on our historical lender list. Most students/cosigners apply online. Your lender will contact you with a credit decision and, if you are credit-approved, send you an Application Disclosure. PLEASE NOTE: All international loan applicants generally are required to apply with a co-borrower who is a U.S. citizen or permanent resident of the U.S. 

Step 2: Application Disclosure

Review your Application Disclosure to find general information about your loan. Online applicants are able to click on a link to read the disclosure. Students who apply by phone receive the disclosure via U.S. mail. 

Step 3: Next Steps

Follow your lender's instructions for the next steps in your loan application process. 

Step 4: Self Certification

Complete the Applicant Self-Certification Form. You will receive it from your lender via email, U.S. mail or possibly both. If you need an additional copy, you may contact your bank or retrieve it online. The following information is needed in order for you to complete the lender's self-certification form:

  • Section 2A of the Self Certification Form: Cost of Attendance is the estimated cost of tuition and fees, room and board, transportation and other allowable costs for the period of enrollment covered by the loan, as determined by the school. View the Tuition & Expenses page for detailed information.
  • Section 2B of the Self Certification Form: Estimated Financial Assistance is all federal, state, institutional (school) and private sources of financial aid for the enrollment period listed in Section 3 of the Self Certification Form. This includes, scholarships and fellowships you are receiving from the Tepper School and outside sources, other loans (federal and/or private), employer tuition remission and financial aid provided by any other source.
  • Section 3 of the Self Certification Form: Period of Enrollment Covered by the Loan. Do not include periods on non-enrollment.

Step 5: Consumer Credit Agreement Letter

Watch for an email and letter from your lender requesting a signed consumer credit agreement.

Step 6: Approval Disclosures

Read your Approval Disclosures and sign them. You will receive a link to it via email if you choose to sign or download your consumer credit agreement electronically. Otherwise, you will receive the disclosure via U.S. mail with a pre-printed consumer credit agreement.

STEP 7: Loan Processing Form

Submit the Loan Processing Form to the Tepper School of Business Financial Aid Office. This form must be submitted in order to initiate action by the school. The lender contacts the school to certify the amount of your eligibility and loan disbursement dates.

Step 8: Waiting Period

Watch for the final loan disclosure from your lender. Once you have received it, you have a 3-business day rescission period during which time you have the right to cancel the loan. The loan will not disburse during the rescission period. You may expect your loan to first disburse 7-10 days after the rescission period ends but not prior to the week before classes begin in the first semester covered by the loan.

Lender Relationship Code of Conduct (pdf)