Private Loans and Grants

Private student loans are generally available to any creditworthy borrower from banks, credit unions, and other lenders. Your ability to secure a private loan will depend on standard criteria such as your credit score, level of income, and stability of employment.

Read our Loan Disclosure page for important information about choosing a private lender. If the loan program you have chosen requires verification of admission, enrollment status, or education costs, please email our financial aid office at

You may be able to deduct the interest you pay on a qualified student loan from your federal income tax. Read the IRS publication Tax Benefits for Education (PDF) and consult your financial advisor for more information.

The tabs below identify four private loan providers that are approved by Excelsior College.

Provided by Citizens Bank Student Loan, the student loan offers a variable rate based upon credit. You may be able to finance the total cost of your education minus other aid received. This loan offers various repayment plans with no prepayment penalty.

Apply online at their Web site

Provided by Sallie Mae, the Sallie Mae Smart Option Student Loan is an option for undergraduate and graduate students who still need funds after they have maximized free money and federal loans. With this loan, you can borrow up to the full cost of your education, less other aid received.

Apply online at their Web site

Provided by Wells Fargo the Wells Fargo Collegiate Loan offers a variable rate based upon credit. If you've received all the federal loans you're eligible for and still need additional funding, you can use a Wells Fargo Collegiate Loan to borrow up to the entire cost of your education, or you may use this loan instead of a federal loan if you enrolled less than half-time or did not complete the FAFSA.

Apply online at their Web site

Provided by Discover Financial Services, the Discover Undergraduate & Graduate Loan complements federal aid to help you cover up to 100% of college costs including tuition, housing, books and more. Choose from a fixed or variable interest rate loan with zero origination fees, generous rewards and no payments required while in school at least half-time. 24/7 Customer Service support to assist you every step of the way. Download loan applications, or...

Apply online at their Web site

Note: A private lender may require you to apply with a cosigner in order to meet credit history, income, and employment requirements.

  • The cosigner is required to sign the loan document, but you are the primary borrower.
  • By signing, the cosigner agrees to be fully responsible for repaying the loan if you do not fulfill your obligations.
  • Be prepared: go to the lender’s Web site and find out what information your cosigner will need to provide before you apply.
  • Applying with a cosigner may reduce your interest rate.



Speak with an Excelsior College financial aid advisor