Private Loans

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.

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.