Borrow federal loans first. Please exhaust your federal loan eligibility before turning to private loans. Federal loans generally offer better protections (fixed rates, income-driven repayment, forgiveness). Note the changes to federal student loans effective July 1, 2026.
Use the Preferred Lender List as a starting point for Private Loans. Columbia vets these lenders on cost, benefits, and service, but you are free to choose any lender. Compare and apply through ELM Select using the links below:
Shop within a two-week window. Each application usually triggers a hard credit inquiry. If you compare multiple lenders, submit your applications within about two weeks. Credit scoring models generally count multiple inquiries for the same loan type made in a short window as a single inquiry, so you can compare offers while protecting your credit score.
Consider a cosigner. A creditworthy cosigner can improve approval odds and lower your rate, but is equally responsible for the debt.
For more information on private loans, visit the Student Financial Services Private Loans page.
