Private educational loans (alternative loans) are credit-based loans provided by nationally recognized lending or banking institutions to eligible students. The maximum amount a student may borrow per academic term is the total cost of attendance minus the total of other financial aid received. Loans will typically be scheduled to disburse at the start of each term.
To ensure your funds are available to you when your classes begin, be sure to start the application process with your lender at least 2 months prior to the start of the term. To assist you in finding a lender, the following handouts provides an alphabetical historical listing of all lenders that students at American University have borrowed from in the past three years. (more…)