Private education loans are loans borrowed from a private source, including banks, credit unions, and private lenders. Some graduate students choose private education loans when they need more flexible repayment options. Borrowing requirements; repayment options; and interest rates will vary from loan to loan and lender to lender. Make sure to do your research when considering a private loan.

• Fees and interest rates vary based on the lender.

Please note: some lenders may require students to apply with a U.S. Citizen or permanent resident creditworthy cosigner.

• Columbia offers a Suggested Lender List for students to reference. Please note you do not have to choose a lender on this list.
• Students have the right and ability to select the education loan provider of their choice, are not required to use any of these suggested lenders and will suffer no penalty for choosing a lender that is not included as a suggested lender.
• Please use the following school codes for your private loan application: 002707-20

Once you secure a loan with the lender directly, you must then complete our online application in order for the loan to be certified. We will not certify your loan until you have done so, which might delay payment of your student account.

* Note that your loan eligibility may change if you receive any funding from other sources, including departmental funding or stipends. If you are receiving any funds in addition to loans, please report them to our office. If you receive funding during the year, we may reduce your loans accordingly.

* We will also update your loan eligibility based on your enrollment. If you reduce your credits, we may have to reduce your loans correspondingly, as your cost of attendance is based on your enrollment.

* Student Financial Services offers some items to consider for domestic graduates students when weighing borrowing a Grad PLUS loan as compared to a private loan on their website