Private Education Loan Information
If you decide that a Private Education Loan is your best option for meeting your out-of-pocket money owed to USF, you may choose to borrow through any lender offering a private educational loan. USF has provided some general information for your reference.
The maximum amount a student is eligible to borrow is determined by the USF Financial Aid Office and cannot exceed the student's cost of attendance minus other financial aid received. The USF Financial Aid Office recommends students apply for both the fall and spring semesters in the same application.
The University of Sioux Falls utilizes the ElmSelect tool to help students compare private loan options. Please select the link below to start using ElmSelect.
*The Private Education Loan application process may take several weeks. The USF Financial Aid Office will begin accepting private loan applications 3 months before the start of a term. Be sure to apply by August 1st for fall semester and January 1st for spring semester to ensure funding arrives to USF before the semester starts.
NOTE: Do not borrow to pay for non-educational items -- borrow only what you need for your education.