Private Loans
Private Loans

» Private Loans

  • Private Loans
  • ELMSelect
  • Sparrow
  • Choosing a private loan lender can be overwhelming. Chapman University has partnered with both ELMSelect and Sparrow to provide you with different platforms for reviewing private loan options. Chapman University has not paid for nor do we receive any compensation for students utilizing these services. We encourage you to always consider your federal loan options first and to ask the Financial Aid Office if you have any questions.

    It is important to remember a few things about private loans before applying for one:

    • Most private loans are credit-based and may require a co-signer.
    • There are no standard set of terms and conditions for private loans, so it is important to read all materials carefully before you apply for the loan.
    • The amount of a private loan cannot exceed the cost of attendance minus other financial aid.
    • Interest rates on private loans vary greatly and in some instances may be higher than federal loan interest rate. You are encouraged to utilize your federal loan eligibility before applying for a private loan.
    • Some lenders offer private loans for international students, parents, and previous balances.
    • You will apply for your private loan directly with the lender and the lender will communicate with Chapman University electronically. 

    To review your options, click on the tabs above.

    It is also important to know that neither Chapman University nor the Office of Undergraduate Financial Aid recommends borrowing from any particular lender. Instead, we recommend you review the terms and conditions of each of the lenders to obtain the loan that best fits your needs.

    You may borrow from any lender, even those not participating in Sparrow or ELM Select.

  • ELMSelect provides students with information about private loans. Once you indicate your program, you will be presented with a number of lenders with basic information. By clicking "View" you can learn more about the lender and what they offer and save lenders to compare. You can use the filters at the top of the page to sort the lenders in various ways.

    Lenders listed in Chapman University’s ELMSelect Portal have all previously approved and disbursed loans to Chapman students in the last 2 years.

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  • On Sparrow, you can search and compare real, personalized private student loan offers from over 17+ lenders through a simple, three-minute application. Sparrow provides a suite of analytical tools that make loan comparison easy, digestible, and visual. Using Sparrow is free and does not impact your credit score. 

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