Private Loans
Preferred & Historical Lender Information
Private Loans, also known as alternative loans, may be used by students and families to bridge the gap between the cost of education and the financial aid award. These loans are for credit-worthy borrowers and are not based on financial need.
The university strongly recommends that you exhaust all grant, scholarship, and federal loan options prior to obtaining a private student loan. Federal loans often have more favorable terms and conditions. Explore Paying for College for more information on applying for financial aid and federal loans, explore our applying for financial aid.
Johnson & Wales University provides a historical list of all private loan lenders through which our students have borrowed five or more loans during the past three years and who have allowed their information to be provided. This list can be found by accessing FASTChoice, a loan comparison tool that assists borrowers in selecting and applying for a loan to best suit their needs.
In addition to our FASTChoice historical lender list, Johnson & Wales University also maintains a preferred lender list with the lenders listed below:
Required Preferred Lender Disclosures
Required disclosures for each of the lenders are available at the above links.
Johnson & Wales University has selected these two lenders because they offer highly competitive interest rates and little to no fees compared to traditional lenders. As nonprofit organizations, they are able to keep borrowing costs lower, helping to ensure loan options are in the best interest of students and families. These two nonprofit organizations offer private student loans to residents of the state and non-residents attending school in the state. North Carolina Assist and RISLA are not affiliated with each other.
Students are not required to borrow from either list. RISLA appears on both lists. JWU does not receive revenue sharing or financial incentives from any listed lender; selections are based solely on potential borrower benefits. You are not restricted to either list and may be eligible for loans or other assistance under Title IV, HEA (Higher Education Act) programs. Terms and conditions of Title IV, HEA program loans may be more favorable.
If you decide to apply for a private loan, we encourage you to search for and review lenders to find the best rates available to you and your family. You are strongly advised to compare the benefits and costs of several private loan programs before you apply.
- You may apply for a private loan without a co-signer, but in most cases a co-signer is required.
- All applications consider an individual’s credit rating.
Again, you are in no way obligated to borrow from one of the lenders listed on our lists.
Before Considering Private Loans
2026-27 Federal Aid Maximums
Detailed information regarding financial aid is available via the JWU Catalog: Financing Your Degree.
Federal Grants Maximums
- Federal SEOG (Supplemental Educational Opportunity Grant): $800
- Federal TEACH (Teacher Education Assistance for College and Higher Education) Grant (graduate only): Up to $4,000
- Federal Pell Grant: $7,395
Federal Direct Loans Maximums (for dependent students)
For dependent students:
- 1st year: $5,500
- 2nd year: $6,500
- 3rd and 4th year: $7,500
Federal Direct Loans Maximums
For independent students or dependent students if the parent cannot receive a Federal Direct PLUS Loan due to adverse credit and the parent has not borrowed a Federal Direct PLUS Loan exceeding $65,000:
- Per year: $4,000 (in addition to the amounts listed above under Federal Direct Loans Maximums (Dependent Students)
Graduate Students Maximums
- Per year: Federal Direct Unsubsidized Loan: $20,500 maximum
Students should also review eligibility for State Grants.
Required Self-Certification Form
As of 2010, private loan lenders must require borrowers to complete a Private Loan Self-Certification form when requesting any private educational loans. The intent is to assist students with a better understanding of cost of attendance, total financial aid, and the gap between the two and to increase student awareness of the consequences of over-borrowing loan money.
Before disbursement of any private education loan can occur, a Required Self-Certification Form must be completed and submitted to your lender. All private education lenders will provide loan applicants with a Private Loan Self-Certification form as part of their application process. The link below will provide you with information needed to complete the self-certification, such as cost, etc.
Code of Conduct for Education Loan Practices
Johnson & Wales University focuses on the best interests of borrowers. The university has adopted the following Code of Conduct for Education Loan Practices requiring all university employees and agents to act lawfully, ethically, and with integrity and to avoid actual or potential conflicts of interest in connection with education loans made to prospective, current, or former students and their families.