Looking for a private loan?

We recommend you carefully review your options and understand your costs before selecting a lender. Before applying for a private loan, you should complete a FAFSA to see if you qualify for a federal loan. If you would like to apply for a loan through a private lender and do not plan to complete a FAFSA for federal & state funding, please submit a Private Loan Counseling Form.

Important things to remember:

• Most lenders will only loan to degree-seeking students.
• Some lenders require students to meet satisfactory academic progress (SAP) requirements.
•  You may also be able to apply for a private loan to cover a past due balance.

It is your responsibility to review your lender's eligibility requirements before you apply.

Search for private loans

IU Fort Wayne will process a private educational loan from any lending institution. To assist you in your search, we are providing two tools below. The INvestEd Marketplace allows you to compare actual rates from multiple lenders based on a soft credit check. ELMSelect provides a range of rates from a historical list of lenders that students have used in the past.

INvestEdMarketplace

ELMSelect

Loan periods

• Academic year (fall and spring)
• Fall only: Aug - Dec
• Spring only: Jan - May
• Summer: May - Aug

Processing a private loan

• You should begin the application process 4 to 6 weeks before you need the funds to ensure timely processing.
• Funds will disburse 10 days prior to the start of the semester or up to 6 weeks after you apply.

Cancelling or reducing your private loan

Please contact our office if you need to cancel or reduce your private loan during the term you applied for the loan. Once a loan is reduced or cancelled, IU Fort Wayne cannot increase or reinstate the loan. You will need to apply for a new private loan.