Private Loans

Private loans are those defined as loans that come from a bank, credit union, or other nongovernmental source.

These loans are not regulated by the federal government and have adjustable interest rates. The terms of the loans will vary from lender to lender, and the interest rate may be significantly higher than that of Federal Direct Loans (Stafford, Parent PLUS and Graduate PLUS).

Ball State does not promote specific lenders. You should thoroughly research all options before making your decision.

Due to requirements in the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private education loan.  If you have not provided a signed copy of the applicant self-certification form to your lender, click here to obtain a copy of the form.