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  Private Loans

Information about private loans as supplements.

Private loans may be used to supplement your Federal loans but only up to your maximum Cost of Attendance.  They are normally subject to credit rating and you may be required to have a co-signer. Lenders offer these private loans at commercial rates. Edinburgh Napier University does not recommend any private lender, however, as far as we are aware there is only one private lender (Sallie Mae) that makes loans available to US citizens receiving their degree at a foreign school. Take a look at the following information provided by Global Education Management Services (GEMS) which will help you make your decision. 

You can also visit their website​ for additional information. 

If you have already borrowed Federal Loans up to your full Cost of Attendance, we will be unable to certify a private loan. The decision on which loan you take out is ultimately yours, please read all of the available information about Stafford, PLUS and Private Loans before deciding which best suits you. Federal loans generally have better benefits and lower, fixed interest rates.

Further information on Private Loans: Smart Option Student Loan

Loan Process

Please notify the US Loans team if you plan to apply for a private loan. Once you have applied for your loan, your lender will normally contact the University to ask us to confirm your Cost of Attendance and certify your loan.

Disbursement Loan

To meet Home Office requirements, private loans will be disbursed in full at the start of the year. You must have matriculated and be registered at Edinburgh Napier University before we can disburse your loan. The disbursement date used is the date that private lenders issue the cheques in the US. Therefore it may take up to 10 days to be received by the University.

Once the cheque is received, you will be required to sign/endorse the cheque to allow the University to bank it. Once banked, tuition fees will be deducted from the disbursement before the remaining balance is paid to you for living expenses.​

​Please note, that due to visa requirements there will only be one disbursement for all private loans and this will take place after you have matriculated. Payment will be taken for your tuition fees first and any remainder will be paid to you in one disbursed instalment. Due to this, we would advise you to ensure you have borrowed enough to cover your expenses for the entire academic year.

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