Can I obtain a Private Loan for credit earning classes?
You must be registered in a minimum of 6 credits. The Federal Direct Student Loan interest rates are significantly lower than even the best private student loan rates, and most credit students are eligible to borrow these loans regardless of high or low income.
Can I borrow Private Loans for Non-degree or Continuing Education Classes?
Yes, Non-degree students are eligible to borrow many Private Student Loans, however they are not eligible to borrow Federal Direct Student Loans.
Continuing education students must meet Satisfactory Academic Progress (SAP) and can be eligible to borrow Federal Direct Student Loans. If SAP requirements are not met, continuing education student cannot borrow Federal Direct Student Loans and will subsequently be eligible for Private Loans.
What is the difference between Private Loans and Federal Direct Loans?
Please look at the table explaining the differences in loans by clicking here: https://studentaid.gov/understand-aid/types/loans/federal-vs-private
Note: FSW does not offer a preferred lender list for private loans. Students can contact their personal bank or research private loans on the Web. We advise students to borrow federal loans first as they offer better benefits and interest rates.