Private Loan Information
Financing Your Education With Private Loans
There are a number of private loan options to help you afford your education. However, private loans should never be your primary funding source unless you have exhausted all of your other options.
Please note that we require all students who request a private loan to file the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. This ensures that you receive notice of all Title IV loans and grant assistance before you make the decision to apply for a private loan. For all students, the best loan options are federal loans. Parents, please consider the Federal Direct Parent PLUS Loan prior to borrowing or co-signing a private loan.
We are required to disclose the maximum Title IV grants and loan assistance available to you. The maximum available grants and loans are listed below:
- Federal Pell Grant: $5,730
- Federal SEOG Grant: $4,000
- Federal TEACH Grant: $4,000
- Federal Direct Stafford Loan: $5,500 for freshmen, $6,500 for sophomores, $7,500 for juniors/seniors, $20,500 for graduate students. Independent undergraduate students can receive an additional $4,000 as freshmen and sophomores and $5,000 as juniors and seniors.
- Federal Parent PLUS Loan: Cost of attendance minus other financial aid.
- Federal Perkins Loan: $5,500 for undergraduates.
Preferred Lenders for Briar Cliff University
Briar Cliff's preferred lenders were chosen after a careful and unbiased selection process, which included criteria such as:
- Previous lender service to borrowers
- Previous lender service to Briar Cliff University
- Ease of loan processing
- Borrower benefits
- Loan terms and conditions
Briar Cliff University and all other schools are required to process loan applications for any eligible private lender the student or parent selects. Students must utilize all federal student aid options prior to utilizing a private student loan.
Financing information for several private loan lenders is available via the FAST Choice Website, which can be accessed by clicking the link below.
We’re here to help. Call us at (712) 279-5200, or contact the Office of Financial Aid online.