Private Loans
Private Loans
Undergraduate Students
Note: International loan applicants will usually need a U.S. citizen or permanent resident co-signer.

What is a private alternative loan?

A number of private lenders (non federal) and other financial institutions offer education loans to students. These loans are referred to as private alternative loans.

How does a private alternative loan differ from a federal loan?

Private alternative loans are not subsidized, and generally have higher interest rates and fees, both based on your credit score. In addition, cosigners may be required. Penn encourages U.S. citizens and permanent residents to first consider the Federal Direct and Federal Direct PLUS loan programs when they need to borrow.

Can Penn recommend the best private alternative loan?

Interest rates and fees on many private loans are tiered, based on your credit score, therefore Penn cannot provide you with information about comparative pricing of private loans nor about the likelihood of your being approved without or without a cosigner. To assist you, however, we have listed below, in alphabetical order, those private lenders who have made five or more private educational loans to Penn students over the past three years, who have not, to our knowledge, suspended making education loans, and who have electronic processes and links to Penn that expedite loan origination and disbursement.

Need more information?

Further information about private alternative loans and selecting a lender is available at Another useful tool can be found at the Pennsylvania Private Loan Marketplace through which you can compare rates and terms from multiple participating lenders side by side, based on your credit score.  At this point, a limited number of lenders are participating in this service.


Before applying for any private alternative loan program, be sure to get free copies of your credit reports at and correct any errors that may be listed.

How To Apply

Apply through the website of the lender you choose.

The chart below lists loan products in alphabetical order.

Please note you are not required to use any of the listed lenders and will not be penalized or disadvantaged if you choose to borrow from another lender.  Be sure to compare the fees and terms of all student loan products to determine which are best suited to your needs.

Citizens Bank Student Loan™ Citizens Bank
Custom Choice Loan Suntrust
Discover Certified Private Loan Discover
PNC Solution Loan PNC Bank
Sallie Mae Student Loans Salliemae
Wells Fargo Private Loan Wells Fargo


Prospective Undergraduates

Parent Corner

Must Do List

Forms and Applications


Publications and Booklets

Special Policies

About SRFS

Contact Us

What would you like to do?

Pay Your Bill

Sign Up for Direct Deposit

Enroll in the Penn Payment Plan

Setup Your PennKey

Update Emergency Contacts

Update Privacy Settings

Complete Your MPN

Complete Entrance Counseling

Complete Exit Counseling

Check Loan Status

Check Financial Aid Application Status

View Financial Aid awards

Review the Student Rights and Responsibilities Statement

Order Transcripts

Register for Classes

Search Federal Work-Study Jobs

Create an I9 form

Quick Links

Penn InTouch


Penn Loan System

PennPlan online

Penn Portal

Penn's Homepage

Penn's Privacy Policy

PennBook Required Disclosures

Office of Admissions

University Registrar

Student Employment Office

Staff Services

line spacer
Small SRFS Logo
Twitter logo Facebook logo instagram logo YouTube logo
Copyright© University of Pennsylvania, Student Registration & Financial Services
Student Registration and Financial Services reserves the right to amend,
modify, or rescind any policy and to create new policies at its sole discretion.
  Policy on Equal Opportunity and Affirmative Action