Private Loans

Educational loans that are not part of the Federal Student Aid programs are referred to as private or alternative education loans. These loans are made to students and may have variable or fixed interest rates. Interest accrues from the time the loan funds are disbursed. Private loans are credit based and may require a co-signer. Terms and conditions of private loans vary by lender.

Crown College recommends that all eligible degree seeking students apply for financial aid using the Free Application for Federal Student Aid (FAFSA) and exhaust all federal loan program options before considering a private educational loan.

If you have exhausted all other financial aid resources, you may want to consider a private loan. The Crown College Financial Aid Office is committed to providing students with the best possible services. As a part of this commitment, we seek lenders who demonstrate excellence.

How to Apply for a Private Loan

Apply Early - loan processing takes 4 to 6 weeks.

  1. Compare Lenders and Apply — Click on "Compare and Apply" to visit the FASTChoice website where you can analyze the terms, benefits and features of the various loans. Compare and Apply.
  2. After comparing the various loans, apply on-line directly with your selected lender. If you choose to use a lender not on the list, apply directly with that lender. They will send a certification request to Crown College.
  3. Keep in contact with your lender to provide any supplemental information requested. All lenders require a self-certification form which they will provide to you. Some may require proof of identity or documentation of income.

Questions on the status of your loan, contact your lender.

Lender Selection

Crown College does not endorse any Private Education Loan lender, however in order to assist you Crown has chosen to participate in a Preferred Lender Arrangement and is providing a list of lenders who meet the following expectations:

  • Provide the commitment, stability and ability to provide loans for the long-term.
  • Provide quality customer service.
  • Demonstrate commitment to borrowers and offer quality loan servicing and default prevention strategies.

In addition, we have chosen to include lenders who are familiar to our borrowers, and who partner with guarantee agencies located in Minnesota. Please note that borrowers are free to select any lender, regardless of whether it appears on our preferred lender list.

Recommended Lenders

  • Discover
  • Sallie Mae
  • SELF (Minnesota Office of Higher Education)
  • Wells Fargo

Lender Disclosures