Cost of Attendance and Private Loans
Much like regular federal loans, the amount of private loans that can be awarded in a given academic year will be determined by a Cost of Attendance (COA) calculation. Cost of attendance is calculated by estimated tuition and book costs combined with a general allowance for cost of living. Because of this calculation, you cannot request a private loan in an amount larger than your cost of attendance.
Cost of attendance will always be the maximum amount of combined funding that a student can receive. For example, if you are awarded a private loan for $15,000, but your cost of attendance is $10,000, then you will not be allowed to receive more than $10,000 from the private loan.
Please contact your student advisor with additional questions about Cost of Attendance and Private Loans.