Making the Right Choice

The majority of students who attend Fielding use federal student loan funding to help meet their educational expenses.

If you are not eligible for a federal student loan, you may wish to consider a private student loan.  In some cases, you may be able to restore your federal aid eligibility, so be sure to contact the Financial Aid Office before considering a private loan.

Should I Borrow Federal or Private?

Beyond having highly flexible repayment options such as income-based repayment and loan forgiveness options, there are several reasons why students may prefer to use federal student loans over private student loans. The Consumer Financial Protection Bureau provides information to students choosing between student loan options.

Federal vs. Private Loan Comparison

Selecting a Private Lender

Fielding does not endorse any loan or lender, and we will work with any student loan provider that you select. International students generally need a US co-signer for a private student loan.

The student loans offered by private lenders vary widely, so be sure to carefully research the loan options and borrower benefits, such as:

  • Academic progress & registration level requirements
  • Interest rate – fixed vs. variable, including co-signer benefits
  • Re-payment terms, including deferment options if you experience hardship
  • In-school deferment options, especially if there is a limited number of years

If you determine that a private loan is the correct choice for you, you may apply directly through the lender or through ELM Select.  The lender will do a credit check, and that credit check may affect your credit score.  You will be required to complete the Truth in Lending Self-Certification when requesting a private loan.  After you apply for the loan, the lender will contact the Financial Aid Office for certification.  Some additional information will be needed from you by the Financial Aid Office to complete that certification.