University of Phoenix offers private loan products from various national
lenders to cover tuition, books and other direct educational costs. These loans
are based on the creditworthiness of the borrower. Various fees and interest
rates for these products depend on the applicant's credit history and the
specific lender's proprietary approval criteria. Some loans provide the
opportunity to borrow funds for prior year's tuition costs. All products
offered by University of Phoenix feature an online application and school
certification process.
Prior to selecting a private loan, students are encouraged to apply for
federal financial aid and take advantage of fixed cap interest rates and
generous deferment and forbearance provisions. Frequent and/or multiple credit
inquiries reduce the applicant's credit score, therefore, students are
encouraged to choose a product that best fits their personal financial
situation.
University of Phoenix offers a Private Loan Preferred Lender List which identifies the loan product, phone number, online application website address, eligibility requirements, annual and aggregate loan limits, applicable fees and interest rates, repayment periods, grace periods and repayment benefits. Please note that students may choose a loan provider outside of this list. Contact your financial aid representative for more information.