Private Loans
Graduate students may choose to fund their education predominately from personal funds and resources or by taking out loans from private lending institutions (e.g., non-U.S. government loan programs).
Private loans, also known as alternative loans, help bridge the gap between the actual cost of education and the amount the Federal government allows you to borrow through its various loan programs . Private loans offered by private financial lenders (e.g., banks, savings and loans, etc.) do require some paperwork, but there are no Federal forms to complete. Some graduate students use private loans when they have an unexpected expense, then they need more flexible repayment options, or if Federal loans do not provide enough funding.
OTHER TYPES OF FUNDING/PAYMENT PLANS
Should you decide that personal loans make sense for your situation, we have provided the list below as a starting point for students interested in private lending institutions. Please be aware that these are private lenders and terms, interest rates, eligibility and award amounts will vary from federally backed student loan programs.
Citibank
Nellie Mae
Chela
Wells Fargo
Additional information about all funding opportunities available to new and continuing graduate students can be found on the Graduate Student Funding Opportunities & Resources web site.
Please note: The University of Wisconsin provides the above private loan resources as informational only and does not recommend nor endorse any particular loan. Please rely on your personal research in making any decision regarding privately secured loans and the prudence of acquiring a personal loan.