Middlebury Undergraduate Students, Language School Graduate Students, and Language School non-degree students requiring additional loan funding may apply to private lenders for an educational loan. The maximum private loan cannot exceed the total cost of attendance less grant aid and other loans received. Interest rates on private educational loans vary depending on the lender. Undergraduate student applicants will require a co-signer on his/her loan application.
What makes a good cosigner?
· Four to five years of good credit history
. Steady employment with enough income to meet their debt obligations
· All credit obligations are met
· Credit is not overextended
· No serious derogatory items on their credit bureau report
What are lenders looking for?
- A very limited number of 30, 60, or 90 day past-due payments on consumer loans or credit card accounts.
- No judgments, charge-offs, bankruptcies, or foreclosures.
- No educational loan defaults.
- No federal debt delinquencies or outstanding federal liens.
- Limited additional consumer debt such as consumer loans, credit cards, etc.
- Current income sufficient for debt repayment
To apply for a Private Educational Loan,
click here
.
To view our Suggested Lender List, click here.