Alternate aid eligibility available for law students
Private educational loans are available for students to use toward approved educational expenses.
Students may compare and contrast private educational loan options through Syracuse University’s Private Loan Database, reviewing available loan products and submitting an application. Approved loans are awarded as part of the financial aid award package and certified by Syracuse University for disbursement to the student’s Bursar account.
Citizens/Permanent Residents of the United States should select “Law Student” as the designated program. We suggest that international and DACA students select the “international” category (and/or review select products in the “Law Student” category if applying with a US-based co-signer).
Understanding Credit and Private Loan Preparation
What is Creditworthiness?
Creditworthiness is a lender’s way of measuring how likely you are to repay borrowed money. When you apply for a private student loan, lenders review your financial background to assess risk. This typically includes your credit score, repayment history, existing debt, and overall credit management habits.
A stronger credit history may help you qualify for more favorable interest rates and terms. Limited or adverse credit history may result in higher rates, additional requirements, or denial of the application.
How to Prepare Before Applying
If you are considering private financing, you may wish to:
- Obtain and review a free copy of your credit report
- Correct any reported errors
- Make payments on time
- Reduce outstanding balances where possible
- Limit new credit applications before applying
Taking these steps may improve your overall credit profile; however, approval and loan terms are determined by the lender.
Applying with a Co-Signer
Students who do not meet a lender’s credit criteria may consider applying with a co-signer (also known as a co-borrower).
A co-signer is an individual who agrees to share legal responsibility for the loan. Lenders evaluate the credit profile of both the student and the co-signer when making a decision. In some cases, applying with a credit-qualified co-signer may improve eligibility or available terms. Co-signers are commonly parents, guardians, or other creditworthy individuals.
Students are encouraged to carefully review all loan disclosures and consider federal aid options before applying for private financing.