Educational loans provided by private lenders (banks) may be an alternative option to students who are ineligible for a Government Direct loan, due to being enrolled in the DMin program or who are considered Special Level. Although the Financial Aid Office cannot give an official recommendation, information about lenders with whom Westminster has worked with in the past to provide educational loans may be found on ELM Select (click the icon below):
Please be sure to compare the fees and terms of the student loan products to determine which are best suited to your needs. To do this check boxes on the menu bar below each of the products that you want to compare and then click on the word “Compare” on any of the menu bars. Also know that you may use another private loan lender not present on Westminster's ELM Select lender list.
Note that most interest rates are determined by the sum of an Index rate (such as LIBOR or Prime) and a Margin that is determined from your credit rating.