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Private Loan Options

Private student loans are consumer loans made to individuals to help pay for college. They are provided by for-profit and nonprofit lending organizations and are not backed by the federal government. Private student loans are designed to supplement, not replace, other financial aid sources to fill funding gaps. Only borrow what is needed to cover your education expenses and take advantage of all federal student loans before considering a private loan. Important things to note:

  • Loan is made in the student's name
  • Often there are deferred payments while in-school
  • May require a creditworthy cosigner
  • Applicant must understand rates, terms, repayment options, annual limits, and bank fees
  • Usually based on LIBOR or PRIME rates (common financial indexes, which are often used as base rates in lending)


EDvestinU is a product of the nonprofit New Hampshire Higher Education Loan Corporation (NHHELCO) and reflects the agency's long history of supporting students' postsecondary aspirations. Open to students nationwide, EDvestinU is a private student loan which offers zero application fees, competitive rates and safeguards from unnecessary borrowing.

The EDvestinU private student loan program works to ensure that you have access to the funding support you need and educate you on why it is important to borrow responsibly. Remember to complete the Free Application for Federal Student Aid (FAFSA®) and maximize all federal student aid, grants and scholarship opportunities available to you before turning to a private student loan to fund your education.

To learn more about the interest rates, co-borrower requirements and terms, visit