What should you consider when selecting a private loan provider?

When selecting a private loan provider, we recommend that you consider all of the following:

• Which academic levels (graduate vs. undergraduate) are eligible
• The amount of any origination or repayment fee percentage
• The annual borrowing limit
• What financial indicator the interest is based on (i.e., LIBOR, Prime)
• The citizenship level required
• Whether or not there is a cosigner release option available
• How credit worthiness is determined
• Whether or not you need this funding for past due balances to Miami
• The ability to sign your promissory note or other documents electronically
• Whether or not there is a prepayment penalty
• The maximum repayment term
• The minimum number of enrollment hours needed to be eligible
• The number and range of repayment options

We strongly recommend that you exhaust all of your federal loan eligibility before borrowing through a private lender and that you obtain a cosigner when applying for a private loan.

For information about private loans, please visit http://www.muohio.edu/loans.