Millsaps College recognizes that even with grants, scholarships
and federal loans you may need additional funding to meet
your college expenses. To fill the gap between financial
aid and the cost of attendance, Millsaps has made arrangements
with several lenders to offer our students private loan
options.
Loan Availability
Undergraduate and graduate students must be enrolled in
an eligible program. Loan approval is subject to credit
criteria set by the lender. your credit report will be obtained
from a national credit bureau. If approved, you may borrow
on a yearly basis, an amount up to the student's cost of
attendance, less any financial aid he/she is receiving.
Choice of Lender
Because the alternative loans are not federally regulated
the interest rates, repayment terms and other provisions
are varied depending on the lender you choose. However,
after researching a vast number of alternative loan products,
Millsaps recommends the preferred lenders at the bottom
of this page. These lenders are committed to providing exceptional
service to our students.
Items to Review
Millsaps ecourages you to review each loan thoroughly. Listed below are
a few items that should be considered:
- Interest Rate Options
- Loan Fees
- Repayment Options
- Repayment Benefits
- Co-signor Release Options
Loan Disbursement
After the loan has been approved and the lender receives
the promissory note and required signatures from the borrower
and co-signor, the lender will request certification from
Millsaps College. Once Millsaps certifies your loan, it
will be scheduled for disbursement.
If your loan funds are not ready for disbursement by the
time of registration, your alternative loan will not be
counted toward your costs and new payment arrangements must
be made.
How to Apply
Please click on one of the lenders below. This will take
you to the on-line pre-approval application for the lender
you choose. Complete and submit the pre-approval application
following all instructions. Your lender will notify Millsaps
once your application has been completed, approved and signed.
