Private/Commercial Loans
Commercial loans are alternatives to federal loans. They are credit-based, may have lower fees than federal loans and may even offer the borrower a choice between fixed or variable interest rates. Please note that these loans are not eligible for the various repayment benefits associated with federal student loans. Students may apply for assistance through one or more commercial loan provider. The amount borrowed from any of these programs when combined with other forms of approved financial aid cannot exceed the student expense budget.
International student loan financing at Georgetown Law is limited to private/commercial loans.
Federal aid eligible students potentially seeking a career in public interest or government work are strongly advised NOT to choose commercial loans over the federal loan options as commercial loans are not eligible for various related federal programs and will NOT be covered by Georgetown Law’s Loan Repayment Assistance Program for students who entered Georgetown Law in the 2009-2010 academic year or later.
Like federal loans, commercial loans may still require students to be enrolled at least half-time in a degree programs (6 credits for J.D. students and 4 credits for LL.M. students), although some programs offer loans to students enrolled less than half-time. In addition, the borrower must typically be a U.S. Citizen or permanent resident or have a U.S. citizen or permanent resident co-signer.
A student may borrow a commercial loan amount equal to the total student budget minus any other financial aid. Additionally, when selecting a commercial loan program a student should determine if the program has an aggregate education debt limit, and if so, whether that limit accommodate the expected amount of borrowing. If your total education debt exceeds the lender’s limit you will not be able to borrow from the program.
Most lenders use a borrower’s credit score to evaluate eligibility and interest rates. An applicant with a score of 680 or higher is more likely to be approved.
Depending on your lender selection, commercial loan funds may arrive via Electronic Funds Transfer (EFT) or via paper check format. Funds that arrive via EFT are posted to the student’s account. Paper checks can be claimed at the Student Accounts Office. If account balance is paid in full, paper loan checks made payable to the student may be released directly to the student. If the student owes money to Georgetown Law, funds will be applied first to the outstanding account balance and the excess will be refunded though the Student Accounts Office.
Preferred Lenders
In response to recent changes in federal student loan programs that take effect on July 1, 2026, Georgetown University has explored several financing options for graduate students. After reviewing the available private education loan offerings for the 2026–2027 academic year, Georgetown has identified six major financial institutions as Preferred Lenders for eligible Georgetown graduate students, based on their available loan terms and commitment to customer support. In vetting private education loan providers for inclusion as a Preferred Lender, Georgetown considered lender history and financial stability, value and lifetime loan cost to borrowers, flexibility for the borrower, customer service and innovation of product offerings.
The private loan options will be available to all graduate students enrolled in academic programs across the university, including tailored offerings for medical students, law students and students in other graduate programs.
Although Georgetown has identified the six financial institutions named below as its Preferred Lenders for the 2026-2027 academic year, Georgetown students are in no way limited to just the Preferred Lenders, and there will be no penalty for obtaining private education loans from a lender not identified as a Georgetown Preferred Lender. A comprehensive list of agreement terms for all Preferred Lenders for the 2026-2027 academic year is available here.
Georgetown will reevaluate its list of Preferred Lenders annually to ensure that the lenders receiving this designation offer, in Georgetown’s view, the most competitive and advantageous loan options and quality of service for Georgetown students and their families.
Before considering a private loan, students should review and exhaust their eligibility for federal student aid, including grants, work-study, and federal loans. To apply for federal aid, students must complete the Free Application for Federal Student Aid (FAFSA) at https://studentaid.gov; you can also visit the site to learn more about your eligibility and explore available federal aid programs.
Preferred Lender List
Please note that Georgetown students are not required to use any of the listed preferred lenders and will not be penalized or disadvantaged if they choose to borrow from another lender. Borrowers should compare the fees and terms of all student loan products to determine which are best suited to their needs.
- Ascent
- Citizens Bank
- College Ave
- Earnest
- Sallie Mae
- SoFi*
*International student borrowers do not need to apply with a U.S. cosigner. However, SoFi recommends a U.S. cosigner to increase the borrower’s chances of being approved and/or receiving a more favorable rate.
ELM Select
ELM Select is a third-party site that provides a neutral, comprehensive list of private education loan lenders that Georgetown University students have borrowed from within the past three years, listed in random order. Students are not obligated to borrow only from the lenders listed. Georgetown University will process alternative loans from lenders who are not listed.
Students enrolled in degree-seeking programs with the School of Continuing Studies should email scsfinaid@georgetown.edu(This link opens in a new tab) to request certification of approved private loans.
Historical Lender List
Below is a comprehensive list of lenders that Georgetown students have borrowed from in the past three years:
- Affinity Plus Federal Credit Union
- Alaska Student Loans
- Alliant Credit Union
- Apple Federal Credit Union*
- Ascent Funding
- Bank of North Dakota Student Loans*
- Bank-Fund Staff Federal Credit Union
- Baxter Credit Union*
- Citizens Bank
- Citizens Equity First Credit Union
- College Ave Student Loan
- Connecticut Higher Education Student Loan Authority
- cu Student Loans
- Day Air Credit Union*
- Democracy Federal Credit Union*
- Digital Federal Credit Union
- Earnest Student Loans
- Everett Credit Union*
- Georgia’s Own Credit Union*
- GESA Credit Union*
- Georgetown University Alumni and Student Federal Credit Union
- Holy Rosary Credit Union*
- Iowa Student Loans
- Liberty Bank*
- Maine Education Loan Authority
- Massachusetts Educational Financing Authority
- Midwest Bank of Western IL
- Minnesota Office of Higher Education*
- MPower Financing
- NASA Federal Credit Union
- Nelnet Bank
- NJ Class
- Northwest Federal Credit Union*
- Nutmeg State Federal Credit Union
- Prodigy Finance
- Rhode Island Student Loan Authority
- SAFE Credit Union*
- Sallie Mae
- Sixup
- Social Finance – MBA Loan
- Thrivent Federal Credit Union
- Union Federal Private Student Loan
- Unitus Community Credit Union*
- USC Credit Union*
- Vermont Student Assistance Corporation
*Lender does not participate with ELM Select. Please contact the lender directly for its most current student loan information.