Private Loans

Private loans can only be used to pay for educational expenses, such as tuition and fees, room and board, books and supplies, and transportation. We strongly recommend that you begin by completing the Free Application for Federal Student Aid (FAFSA) and apply for a Direct Student loan, then use private loans to complete your financial aid needs.

• If the loan is in the student's name a cosigner is highly suggested
• FAFSA not required, but highly recommended
• Variable interest rate, adjusted quarterly.  Fixed rate available also.
• Any unpaid interest that accrues while the student is in school (and not making payments while in school) will be capitalized and added to the principal balance when the student enters repayment.
• Private loans available with and without the half time requirement (at least 6 credit hours).
• Undergraduates usually need a cosigner, preferably a parent or guardian.

Please note: All private loans require you to complete a Self Certification form. This form must be completed and received by the lender before CCU will receive notice of your loan. Most lenders offer this form as part of the electronic application process.

Coastal Carolina University will review all private loan applications, from any lender, for eligibility.  We offer a participating lender list available to our students, though this is not an all inclusive list. Coastal Carolina University sends a Request For Information (RFI) to any lender that would like to complete one. The determination of a lender's inclusion on our participating lender list is based on the information provided in the RFI along with the student and staff experience. A loan product must first be used by a student prior to being included on the list so that a determination of satisfactory service can be assessed. 

Attention all private loan borrowers: The Truth in Lending Act requires private lenders to obtain a Private Loan Self-Certification Form. This form must be signed by the borrower and returned to the lender before the loan can be disbursed. Many times this missing step delays the disbursement of your loan. Please ensure this final step has been completed to avoid any delays in receiving your funds. Do not return this form to Financial Aid and Scholarships, as it will cause further delays.

Attention Summer Borrowers: When applying for a private loan for a summer term, please be sure to select the appropriate award year.
(Example: When applying for 2023 summer terms, select the award year 2022-2023.)