Private loans are loans are a form of alternative loans that are offered through private agencies and lending institutions other than universities or the federal government—namely, banks. Private loans are alternatives to Federal Direct Loans.

Who Can Borrow?

• Students (and parents) who are U.S. citizens
• Permanent U.S. residents
• International students (with an eligible U.S. citizen or permanent-resident co-signer)
• In special cases, non-matriculated students** 

Learn more about NJIT's private lenders and their application guidelines, interest rates, maximum amounts, and repayment terms at (link coming soon!).We recommend that you choose your lender wisely, paying attention to the varying rates and benefits offered by each lender. (Also, we value and honor student choice; you are free to choose a lender that is not detailed in the lender list.)

**The federal government requires that you be officially accepted and enrolled in a degree-granting program (i.e., "matriculated") in order to receive financial aid (such as a Federal Direct Loan); however, some private lending institutions do not require matriculation for loan eligibility. Refer to the lender list (link above) to determine which ones.