Private loans exist for both student and parent borrowers with most lenders offering both fixed and variable interest rates. The below outline is provided to help guide your process of securing a private/alternative education loan. We encourage you to consider all gap financing options before making a decision that meets the needs the needs of your family.

Be sure that you have first secured the maximum amount possible from the Federal Direct Loans. If you still need additional financing:

• Apply online for the loan you have chosen.
• Complete the self-certification form and submit it to your lender. (Most lenders will provide the form within the loan application.)
• Susquehanna University will be notified by the lender of the decision to approve or disapprove your loan. (Approvals are credit-based.)
• If approved by the lender Susquehanna University will certify the loan amount for which you qualify. The lender will send you an approval disclosure, which you must respond to before the loan can be released to your student account.
• A final (third) disclosure will be sent to you and you will have three business days to rescind (cancel) the loan

Please note that this process may take up to five weeks to complete. Apply early in order to receive your loan funds at the start of the semester.
For information and/or application materials, please contact Student Financial Services.

Click here to view our list of preferred lenders

We have developed a preferred list of private loan lenders based on a survey sent to 15 lenders who have been actively lending within Pennsylvania for at least five years.

Interest rates and fees for private loans vary from lender to lender based on the credit of the individual borrower and cosigner. We recommend that you apply for one or more private loans before deciding which type of loan is best for you. Applying for a private student loan does not obligate you to accept it.

We evaluated lenders based on pricing, technology and customer service, as well as our experience with these lenders. A committee reviewed the data and developed the list of lenders, which is evaluated and updated annually.

Our suggested lenders

• Have a history of excellent customer service in dealing with our students and families
• Offer benefits, such as interest rate reduction for auto-debit
• Offer “value-added” services to students such as debt management tools and programs, useful websites and default prevention programs
• Have not offered financial benefits or other benefits to Susquehanna in exchange for being included on the preferred lender list
• Have not offered, directly or indirectly, points, premiums, payments, or other inducements, to Susquehanna or any party to secure applicants for loans
• Will not offer a loan to induce other products and services to the borrower

You are not required to select a lender from our preferred lender list. If you select a different lender, call Student Financial Services at 570-372-4450.
Lenders and schools will provide a self-certification form as part of the application process for a private student loan. The loan application will not be complete until all forms and disclosures are signed by the borrower and co-borrower.