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. ELMSelect is a resource that provides a historical list with information about private lenders used by University of Richmond students and families over the past two academic years. To find lenders Richmond students have used in the past two years that do not participate in ELMSelect, visit the ELMSelect website, click "University of Richmond" on the page header, and view "Helpful Links" in the drop-down menu. 

Richmond does not endorse or recommend any private loan lender; borrowers may apply for funding with a lender of their choice, including those not on the ELMSelect list. It is important to compare loan terms, including eligibility requirements, interest rates, and repayment terms, and contact lenders directly for additional information about specific loan products.