Various lending institutions offer private education loans to help cover the gap between the cost of education and the amount of federal and state aid available to those who qualify. A cosigner may be required to meet the program’s credit criteria.
A private loan is made by a lender and may have terms and conditions that are less favorable than the Federal Stafford or Federal PLUS loans.
Interest rates vary and are typically based on the prime rate or the Treasury-Bill rate. Interest rates are often determined by the borrowers and/or cosigner’s credit rating and credit history. Terms and conditions will vary by lender, be sure to read all of the details on the loan before you borrow. Missouri College does not endorse any specific lender. We strongly encourage you to compare loan terms and conditions of the lending institutions that offer or make loans to students, as it is your right and responsibility as the borrower to work with the lender of your choice. If you decide to apply for a private loan to help pay for your education you will suffer no penalty for your choice of lenders.
If at any point in the process you have questions or need more information, a Missouri College financial aid representative will be available to provide assistance.
To learn more about Missouri College, our diploma and degree programs or how to apply for admission, please contact us for more information.
Financial aid is available for those who qualify.