About Private Education Loans
Private Education Loans are offered by lenders as an alternative option for paying college expenses, including tuition and fees, books, and transportation. Private loans may have significant disadvantages when compared to federal loans. We strongly encourage you to consider your lowest-cost options first, including grants, scholarships, and federal student loans.
After exhausting federal loan opportunities, many students will consider private loan programs. Duke University maintains a list of lenders we believe offer excellent customer service, competitive interest rates and borrower benefits.
Lender Selection Process
Duke's recommended lenders are chosen annually by a committee of financial aid professionals. Each year, Duke University sends a Request for Information (RFI) to a number of lenders. The responses from the lenders are then analyzed based on the following criteria:
- Promotes responsible borrowing
- Demonstrates a default rate that is comparative to the national average
- Has a responsive customer service center
- Provides the same competitive benefits to all borrowers
- Financially stable
Duke does not receive, and will not accept, inducements from lenders in exchange for inclusion in our recommended lender list.
Recommended Lender List
The Duke University Student Loan Office is committed to providing our students and their families with accurate information about the best available rates, benefits and service. To help you with your selection process, we have created a Recommended Private Lender List. You are not required to borrow from any of the lenders on this list. If you choose to borrow from a lender outside the Recommended Lender List, we will be happy to process it for you. Duke University will not discourage, refuse or delay certification.
Each of our Private Loan Recommended Lenders offer an array of educational loans. For a comparison of the loans and borrower benefits, please visit our online Private Loan Recommended Lenders list. Our recommended lenders for the 2013-2014 aid year are:
After you have applied for a private loan, your lender will send you the Self Certification Form and the Private Loan Disclosure Statement. You may also view a list of all our recommended lenders' loan disclosure statements here.