Private loan resource guide:
Go to ELMSELECT website to compare your loan options.
Private student loans can help cover education costs that aren’t fully met by other financial aid. Before considering a private loan, students and families are encouraged to explore Federal Direct PLUS Loans or Federal Stafford Loans , which offer capped interest rates set by the federal government.
If additional funding is still needed, private lenders offer supplemental loans to help cover the remaining cost of attendance. These loans:
- Are not based on financial need
- Are approved based on creditworthiness and ability to repay
- Can be borrowed up to the difference between the cost of attendance and other financial aid
Private loan terms vary by lender, including interest rates, fees, repayment options, and approval requirements. Students should carefully compare lenders and choose the option that best fits their needs. Rose-Hulman does not endorse any specific lender, and students are not required to borrow from the lenders listed—they are simply those commonly used by current students.
Important: Due to federal regulations, students applying for a private education loan must complete the Private Education Loan Application Self-Certification Form, available on the lender’s website. You will need Rose-Hulman’s cost of attendance to complete this form.