Private Loans

Private loans are non-federal, credit-based loans that can help students cover educational costs not met by other forms of financial aid. The maximum amount a student or parent may borrow each year is the Cost of Attendance, determined by the Office of Financial Aid, minus any other financial aid the student will receive. There are many different private loan lenders and products available, and it is important to compare the loan terms, including eligibility requirements, interest rates, and repayment terms, for each loan option you are considering. 

ELMSelect

ELMSelect is a resource that provides a historical list of private loan lenders used by University of Richmond students and families over the past two academic years. Richmond does not endorse or recommend any private loan lender, and borrowers may apply for funding with a lender of their choice, including those not on the ELMSelect list. In the ELMSelect platform, view “Helpful Links” for information about lender(s) Richmond students have used in the past two years that do not participate in ELMSelect.