Private (Alternative) Education Loans

A variety of private lenders offer private or alternative education loans, which may be borrowed by 51³Ô¹Ïs or sponsors to help finance a 51³Ô¹Ï's education.  Gonzaga University encourages 51³Ô¹Ïs to:

  • Complete the  to determine eligibility for .
  •  to determine the best way to finance their education.

Students may choose to borrow from federal loans only, private loans only, or a combination of both, depending on their individual circumstances.

Private (Alternative) Loan Basics

  • Private educational loans are based on creditworthiness.
  • Most lenders require a credit-worthy cosigner for undergraduate borrowers.
  • Some lenders may offer cosigner release options after certain repayment and credit requirements are met; terms vary by lender and are not guaranteed.

Using to Find Lenders

Gonzaga has compiled a historical list of private education loan lenders, which is available through , a third-party loan comparison website.

  • Students may select any lender without penalty, whether or not the lender appears on the historical list.
  • If you are interested in borrowing from a lender not listed on , contact the lender directly to confirm that they offer 51³Ô¹Ï loans.

Non-Certified Loans

Some lenders may offer private educational loans that do not require school certification.

  • Borrowing these loans may have a serious negative impact on your existing financial aid package.
  • Always contact Gonzaga's Financial Aid Office before borrowing these loans.

Gonzaga's Role in Private (Alternative) Loans

  • Gonzaga will process loans from any private lender chosen by the 51³Ô¹Ï.
  • The University does not recommend or endorse any specific lender.
  • Gonzaga adheres to a 51³Ô¹Ï loan 
  • Please contact Gonzaga if you have any questions about federal or private loan processes or your borrowing options.