Before you Apply
Before you apply for private loans, contact us to learn more about federal aid, which can be the least expensive option as private loans are based on creditworthiness. These loans can have more competitive interest rate options than federal loans for those with a high enough credit score and are an option to help fill the gap should no other federal aid options be available.
Finding the best lender for you and your family is important. Once you and your family have considered federal loan options, you can view and compare alternative loan options using ElmSelect. This tool provides lenders and alternative loan programs we commonly work with. Please note that there are lenders outside of this tool that Boise State can work with as well.
Understanding Loan Terms and Eligibility Requirements
Interest rates, loan fees, and repayment options vary based on lender-specific criteria and borrower credit score. Please read carefully about the different options available or call the lender directly to fully understand the various loan options. Federal regulations require alternative loan borrowers to provide their chosen lender with a “Private Education Loan Applicant Self-Certification” form.
Some lenders offer loans that don’t require you to meet Satisfactory Academic Progress standards, be at full-time status or degree seeking. If you currently are ineligible for federal financial aid, make certain to check with the lender to see if they offer loans to students for your unique situation.
Processing Times
- If we received your request before the next academic aid year begins, processing begins in June.
- If we received your request during the academic aid year, please allow up to 2 weeks for reviewing and sending the certificate to the lender for final approval.
- August and January are peak processing times. It may take 3-4 weeks for your loan to be processed and on your student account.
- Summer loans: Processing for these loans starts in April. You must be enrolled in summer courses in order to be awarded.
- Late start classes (sessions that begin later in the semester) do not disburse on the first disbursement date of the semester. Please review your Student Center for more information if enrolled in these classes.
Boise State does not endorse, recommend, or promote any lender or any products or loans offered by lenders. Boise State will process loans from any alternative loan lender.