Private Student Loans
Private Student Loans are a funding option that can be used in combination with, or as an alternative to, Federal Student Loans.
As a courtesy, Rice University provides a historical lender list for your reference. Please note you are not limited to this list and may borrow from any lender of your choice. From the link below, simply select your program from the drop-down menu and click "view loans".
This funding is potentially available to US Citizens and Permanent Residents (green card holders).
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STEP 1: Review the Cost and Funding Calculator and determine the amount of funding you want to borrow for the academic year (Fall + Spring).
STEP 2: Determine the lender you wish to borrow through. The Rice Business - Private Loans historical lender list may assist you in your search.
STEP 3: Apply for your loan directly with the lender of your choice.
- The Loan Period is August 22, 2022 – May 2, 2023
- Some lenders request that you include the estimated Cost of Attendance (COA) figure in your application. You will find that information on the Cost of Attendance tab of the Cost and Funding Calculator spreadsheet.
Once your loan has been approved, the lender will send a certification request to Rice University asking for confirmation of loan amount , disbursement dates, etc. Once your loan is certified by Rice, the funding will show in the Financial Aid award section of your ESTHER account.
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Disbursement
Assuming you completed all loan application steps, funding begins to disburse in 50% increments around the first week of class each semester.Funding is transferred from the lender directly to Rice University and is then applied toward your ESTHER Student Account.
Refunds
If you decide to borrow above the cost of tuition/fees, the credit on your account will be refunded to you by the University Cashier's Office. Refunds can only be processed once there is a credit balance on your account (funding will first be applied to all tuition/fees for the Semester).We recommend that you set-up an Electronic Refund account in your ESTHER Payment Suite so that funds can be electronically transferred to your bank account.
Navigation: ESTHER => Student Services => Payment Suite => Electronic Refunds
If you choose not to set-up a Refund account, it can take 2-3 weeks for you to receive a mailed refund check.
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Is there a maximum amount that I can apply for in Private Loans?
Yes. The maximum amount of any type of aid you can receive each academic year is called the Cost of Attendance. When applying for a private loan you can request a loan up to the Cost of Attendance minus any other type of aid you are receiving (including scholarships and/or federal loans).You will find the Cost of Attendance for your program on the Funding Calculators (provided in the Application Steps section above). You will also be able to see how much you you will be charged each semester so that you can determine how much to apply for.
Are International Students eligible for to apply for Private Loans?
Some lenders may lend to International Students, but often require a US Citizen or Permanent Resident co-signer on the loan. There are a small number of lenders that do not require you to have a co-signer.In addition to the lenders provided on the historical lender list, International applicants may find additional funding information in the "International Loan-Granting Organizations" section of the Admitted Students website.
How do I check my award status?
Go to ESTHER => Financial Aid => Award Status => Award for Aid Year (select appropriate academic year).
Your Private Loan will show in an "accepted" status. If you need to adjust the amount, please contact our office: JGSBFina@rice.edu.How can I check if I have incomplete funding requirements?
Go to ESTHER => Financial Aid => Financial Aid Requirements
You will also be notified of any requirements via your @rice.edu email account.