Financial Aid  
Private Lenders

Private education loans may have significant disadvantages when compared with federal education loans.

We recommend that you exhaust all federal grant and loans available to you before considering a private (alternative) loan. You may qualify for loans or other assistance under Title IV of the HEA (Pell Grants, Stafford, Perkins, FSEOG grants and PLUS loans) and the terms and conditions of Title IV, HEA program loans may be more favorable than the provisions of private education loans. Homeowners may also want to consider a home equity loan first. Oklahoma City University has developed a list of private loan providers for students who need a focused and neutral resource for help in finding a private student loan. The lenders appearing on our "ELM Select Listing" are lenders with which our students have had success in the past. Standard disclosures for each loan can be found by clicking on the lender listed on the ELM Select List.

Oklahoma City University has NO affiliations with any private lenders. OCU HAS RECEIVED NO CONSIDERATION FROM ANY LENDERS FOR PLACEMENT ON THIS LIST. Placement on this list DOES NOT in any way constitute an endorsement from OCU NOR should it be construed as a preferred lender list. You are free to borrow from any lender of your choice. While OCU has made every effort to confirm each of the lender's loan terms described through website research and multiple calls and visits with the lender customer service representatives, OCU cannot guarantee its accuracy. Furthermore, not all the lenders listed lend to all students at all schools. The borrower should confirm any and all loan terms with the lender PRIOR to accepting the loan. Each lender's position on the list is randomly determined and will change each time the ELM Select page is refreshed. OCU will update this page as necessary and will provide a date of last update at the top of this page. The information provided below is subject to change without notice. Click here for the Oklahoma City University Code of Conduct.


Interest Rates

  1. For current LIBOR information, please visit
  2. For current prime rate information, please visit

Fees: The fees charged are typically added to the principal amount owed at the time they are assessed.

  1. Origination Fees are assessed upon receiving the loan.
  2. Repayment Fees are assessed upon entering repayment.
  3. Late payment fees are also typically charged by the lender, but those fees are excluded from the table above.

Auto payments: Automatic debit payments made via a bank account. Many lenders offer a benefit in the form of an interest rate reduction for signing up for these automatic payments.

IRR - Interest rate reduction: Benefits awarded to the borrower that lead to the interest rate being reduced can include signing up for auto payments, making a certain number of consecutive on-time payments and simply by graduating.

Co-Signer Release - Student has had loan co-signed (typically by a parent or close relative). A number indicates the number of consecutive, on-time monthly payments required for co-borrower release. In many cases, student must meet some credit-based criteria in addition to making the on-time payments