Private Loans are credit-based funding provided by external, nonfederal lenders to help cover educational costs. Take into consideration repayment terms, interest rates, and deferment options before choosing a private loan. Some lenders may require a co-signer for credit reasons. For students who apply through a lender on the Fast Choice website, the loan funds will be disbursed electronically, allowing for an efficient process for the borrower and the school.

Students taking accelerated science courses are eligible to apply for Private Loans as an alternative to paying direct costs out-of-pocket or through a payment plan. Note that federal financial aid and Veteran Education benefits are not available for this program. 

While SCU does not endorse a specific private loan lender, students who need assistance in finding a lender can access FastChoice. FastChoice is an online tool designed to help students compare and select private student loans. It provides a user-friendly platform where schools can customize the loan selection process, offering students detailed information about different loan options from various lenders. This tool is typically integrated into school websites, allowing students to compare loan terms, benefits, and make informed financial decisions. 

For students enrolled in other SCU programs, we encourage that you maximize your federal financial aid eligibility before applying for a private loan. Please contact the Financial Aid Office at financialaid@scuhs.edu to learn about various aid options for undergraduate and graduate students. 

1. Inquire about all available options prior to applying for a Private Loan. For students enrolled in Accelerated Science (AS) courses, payment plan options are available. Please reach out to our Student Accounts team at studentaccounts@scuhs.edu for more information.
2. Complete an Intent to Enroll Form and email completed form to studentaccounts@scuhs.edu.
3. Have the following information ready before applying for a private loan:
   1. Loan Amount - Students can request a loan amount equal to their cost of attendance or for AS students only their
      course(s), plus up to $125 per unit in additional funds. For example, an AS student can borrow up to $1,920 for a 3-unit course
      ($1,545 in tuition + $375 additional funds).
   2. Start and End dates - typically the start and end dates of the terms or blocks. View our latest Academic Calendar here. 
4. Apply via FastChoice or through your preferred lender's website. Make sure you are choosing a Private Student Loan. 
5. Await Loan Certification from our Financial Aid Team. 

Loans will be certified upon receipt of an approved loan application. Note that this process can take 5-7 business days after approval. Once your loan is certified, your loan will be subject to a 10-day right to cancel period. Loans will be disbursed at the beginning of each term/block, contingent upon the successful verification of enrollment. 

Any unused funds resulting from missing enrollment or failure to provide required correspondence will be returned to the lender.

Please reach out to our Financial Aid team at financialaid@scuhs.edu if you have any questions or concerns about the private loan process.