Private educational loans

RVU students may borrow loan funds from any lender they choose. Most lenders offering private loans require a satisfactory credit history and will perform some type of credit check before they will offer you a loan. Some lenders may require a cosigner, especially if your credit history is a concern.

Each lender will set the interest rate, maximum amount you may borrow and other loan terms for their individual private loan programs.  Most private loans come with a variable interest rate and will require “certification” from the RVU Office of Student Financial Services. This means that we will be responsible for verifying your Cost of Attendance and enrollment status before the lender will disburse any funds to you.

Typically private loan funds are sent to your school at the start of each semester. Any funds we receive on your behalf will be applied to your student account. After your institutional charges are paid in full, any remaining loan proceeds will be refunded no later than fourteen days after the date the credit balance occurred. You will have the option of receiving your refund by direct deposit or a prepaid debit card.

Students apply directly to a lender for a private loan. You may request the amount of funds you need but in no case may your loan exceed the Cost of Attendance minus any other financial aid or resources you receive. We encourage you to prepare your own budget, using our Cost of Attendance as a guideline, and not apply for more loan funds than you need.

Please be sure that your lender provides the RVU Office of Student Financial Services with the necessary information in order to process your loan in a timely manner. The RVU Office of Student Financial Services will certify your loan when requested to do so by your lender.