Apply for a private loan with a new lender

If you have financial need after the Federal Stafford and Federal PLUS loan options, you may consider a private loan. Please understand that each private loan lender uses its own company’s credit criteria. The credit terms are generally more stringent than a Federal PLUS Loan, and may require a cosigner. Interest rates, repayment terms and other options vary widely so it pays to shop around for your best deal.

• Complete your FAFSA at www.fafsa.ed.gov with the KCAI school code 002473. The FAFSA will determine your eligibility for loans.
• Obtain a creditworthy cosigner before applying online. This could be a relative or friend. 
• Complete a Private Loan Data Sheet for Returning Students and submit it to the Financial Aid office.
• Click on the link of your lender on the Preferred Lender List for Private Loans and complete the online application; be sure to e-sign.
• FOLLOW UP with the private lender even though you might be “pre-approved." Chances are you will need to send documentation such as driver’s license or pay stubs to complete the application process.
• The private lender will process the loan and send it to the school for certification ONLY WHEN ALL DOCUMENTATION IS COMPLETED.
• If you are having any difficulties with the on-line process, call your new lender’s toll free number to help you with their website.  They are the “loan experts” and can walk you through the process step-by-step.
  

If you are unable to find a computer for the online services, please contact the Financial Aid Office as soon as possible. Information on lenders and promissory notes will be mailed to you.  Please understand this may slow the loan process considerably.