Private Student Loans

Note: An education private loan is a legally binding contract that must be repaid with interest even if you do not graduate or are unable to find a job. If necessary, borrow only what is needed.

Can I obtain a Private Loan for credit earning classes?

You can borrow any private student loan only if you have accepted all federal aid.

If you are taking credit classes and pursuing an Associate’s degree, Bachelor’s degree, or one of the financial aid eligible certificate programs at Florida SouthWestern State College, you must apply for and accept all federal aid before you borrow any private student loan.

You must also be registered in a minimum of 6 credits. The Federal Direct Student Loan interest rates are significantly lower than even the best private student loan rates, and most credit students are eligible to borrow these loans regardless of high or low income.

Can I borrow Private Loans for Non-degree or Continuing Education Classes?

Yes, Non-degree students are eligible to borrow many Private Student Loans, however they are not eligible to borrow Federal Direct Student Loans.

Continuing education students must meet Satisfactory Academic Progress (SAP) and can be eligible to borrow Federal Direct Student Loans. If SAP requirements are not met, continuing education student cannot borrow Federal Direct Student Loans and will subsequently be eligible for Private Loans.

What is the difference between Private Loans and Federal Direct Loans?

Please look at the table explaining the differences in loans by clicking here:

Note: FSW does not offer a preferred lender list for private loans. Students can contact their personal bank or research private loans on the Web. We advise students to borrow federal loans first as they offer better benefits and interest rates.

For more information offers a loan analyzer at