Private educational loans, also known as alternative loans are loans that students can borrow through private lenders to help bridge the gap between the actual cost of education and the amount offered through the federal aid and institutional aid programs. These loans are credit- worthy loans and all loan documents are completed with the lenders. Rush University does not have a preferred lender list or arrangement. Loan interest rates and repayment plans are based on the individual private lender and will be detailed in the paperwork completed with the lender. If a student does apply for and is approved for a private educational loan, Rush University will receive the notification electronically and be able to certify the loan not to exceed the established Cost of Attendance minus other forms of financial aid (grants, scholarships, loans, etc.). Students are encouraged to work with the Office of Student Financial Aid to ensure they have exhausted their federal and institutional eligibility before applying for a private loan.