Private Loans

The Financial Aid Office is committed to choosing lenders who provide good service and benefits to our students. We are also committed to choosing lenders who we believe are in the student loan business for the long haul.

About private education loans

Private education loans are credit-based consumer loans that can be used to pay any post secondary education related expenses, including tuition and fees, books and transportation. Always consider lowest cost options first, including grants, scholarships and federal student loans. 

After exhausting loan opportunities available form federal aid programs, many students will consider private loan programs as an additional source of funding. KCAI maintains a list of suggested private loan lenders but students are free to chose any lender.

How is the lender list developed?

Lenders responded to a recommended lender Request for Information (RFI). They are ranked using criteria developed by the National Association of Student Financial Aid Administrators (NASFAA). The results of these rankings and responses to the RFI are examined by a committee.

The committee makes recommendations to the college's executive vice president for administration and the vice president for enrollment management, taking into account efficient processing, customer service (for parents, students, and administrators) and benefits to the borrower. The final selection is approved by the executive vice president for administration and the vice president for enrollment management.

The Kansas City Art Institute continues to provide students and their families with a Preferred Lender List despite current concerns regarding such lists, because we believe it is helpful to our students, who often request guidance in the selection of the lender. The preferred lender list intended as a guide only. The financial aid office will process a loan from any lender selected by a student.

Preferred Lender list –– Private Loans

Variable Rate Loans	Fixed Rate Loans
CHASE Bank 800-487-4404 Lender code: 503000 chasestudentloans.com/kcai/	Collegiate Custom Choice by Suntrust Bank 866-230-5609 Lender code: 911353 http://www.collegiatestudentloans.com/
Collegiate Custom Choice by Suntrust Bank 866-230-5609 Lender code: 911353 http://www.collegiatestudentloans.com/	US Bank 800-242-1200 Lender code: 830694 www.usbank.com/studentloans/fixed
Commerce Bank 800-666-3910 Lender code: 900917 www.commercebank.com/smartoption	Wells Fargo 800-658-3567 Lender code: 807176 https://www.wellsfargo.com/student
Discover 877-728-3030 Lender code: 831312
US Bank 800-242-1200 Lender code: 830694 https://www.usbank.com/nofeeapp
Wells Fargo 800-658-3567 Lender code: 807176 https://www.wellsfargo.com/student