A Continuing Education Loan (if needed) may be borrowed if a student is not matriculated (that is, admitted into a degree program) and therefore not eligible for Federal loan programs. These loans should only be applied for as a last resort. For non-degree College of Graduate Studies (any term) or Continuing Education undergraduate students (winterim or summer terms), payment for classes is due at the time of registration. We strongly recommend that you apply early for your loan to ensure that it’s in place by the billing or registration due dates.
Please note: PSU does not enter into Consortium Agreements with other institutions for purposes of accessing federal financial aid programs
Although the lending institution of choice is completely up to you, we strongly recommend that you consider the following when making your decision:
- Continuing Education loans are private loans through a lending institution and not part of federally funded programs.
- Continuing Education loans are more expensive than federal student loans and should only be used when all other options have been exhausted.
- Be sure you have applied for all available assistance before pursuing a Continuing Education Loan.
- Continuing Education loans are in the student’s name, and a cosigner may be required. Once a complete application has been received, the lender will perform a credit check and will let you know if your application has been approved.
Please click on the following link for more information on Continuing Education Loans:
Sallie Mae Smart Option Loan
http://www.salliemae.com or 1-888-2-SALLIE (888-272-5543)