Private Educational Loans
Salisbury University uses Education Loan Management Resources (ELM), a not-for-profit mutual benefit corporation, to display
private lenders along with the certification and disbursement processing of the student loans.
- These loans are borrowed in the student's name but may require a co-signer
- Private loans accrue interest while the student is in school. Lenders may require the student pay the interest as it
accrues while attending school
- The interest rate may be based on the credit history of the student borrower and the co-signer
- Depending on your lender, the loan process can take three (3) to six (6) weeks from the time you apply until receipt
of funds at Salisbury University.
Before signing a promissory note for the loan, please be sure you understand the interest rates and fees
associated with your loan. Once your loan is approved, the lender will contact the Financial Aid Office at
Salisbury University for further processing. Please click the following link to access specific lender information
and submit loan applications: ELM
If you should decide to use a Private Educational Loan to supplement your Federal financial aid, please read the following notice:
In compliance with the Federal Reserve and Department of Education rules and regulations effective February 14, 2010, students
who borrow private educational loans are required to complete the
Private Loan Self-Certification Form for each loan requested,
before loan funds will be disbursed.
To complete the Private Education Loan Self-Certification Form, you will need to
provide your demographic information as well as information about your Cost of Attendance and your Estimated Financial
Assistance. Please refer to the menu commands below to view the Salisbury University Cost of Attendance and your Estimated
Financial Aid. If you did not file a FAFSA, you will still need to complete the Cost of Attendance on the Self-Certification Form.
- Cost of Attendance: GullNet > Self Service > Campus Finances > View Financial Aid (click on Financial Aid Summary)
- Estimated Financial Assistance: GullNet > Self Service > Campus Finances > View Financial Aid
Remember, if you do not submit a completed and signed
Self-Certification Form to your lender, your private loan will not be
Do not submit your self-certification form to Salisbury University. The form must be completed by the borrower and sent to the lender that you are applying with.
Private Education Loan Self-Certification in PDF Format, 196 KB, 2 Pages
Salisbury University has partnered with Sallie Mae to offer several payment plans through TuitionPay. All of the plans are
interest-free, debt-free ways to spread tuition payments over a number of months. Find out more about payment plans: Payment Plan