Financial Aid | Additional Loan Resources Private Loans Private banks also offer loan programs for educational costs. Interest rates generally are variable. Johns Hopkins University recommends that students exhaust their eligibility for federal loans before considering private loan programs. If you are uncertain about your eligibility for federal loans, please contact the financial aid office prior to initiating a private loan application. For state or private loans, the borrowing limit is the total cost of education for the academic year (as defined by Johns Hopkins University) less any financial aid. As a service to students and their families, Johns Hopkins University makes available this link to the Maryland Student Loan Marketplace (http://www.marylandstudentloanmarketplace.com/) which assists in comparing private loans and in identifying potential lenders. The Maryland Student Loan Marketplace was designed by the Maryland Independent College and University Association (MICUA) to help students and their families navigate the world of private student loans. The Marketplace is an online, education financing resource that provides students with a transparent process to evaluate private loans. In addition, it provides access to a Learning Center which supplies critical information needed to engage in smart borrowing practices. It is one of many tools that may be helpful when selecting a private loan lender. The University does not endorse or recommend any lender, nor does the University have any financial interest in any lending institution. Students and their families have the right to select the educational loan provider of their choice. Disclosure for a Preferred Lender Arrangement: http://www.micua.org/Student%20Loan%20Marketplace%20Disclosures.pdf Truth-in-Lending Forms for each Participating Lender: http://www.micua.org/Marketplace%20TILA%20Disclosures%20-%20May%202010.pdf Maryland’s College Loan Code of Conduct: http://www.micua.org/Maryland%20College%20Loan%20Code%20of%20Conduct.pdf Before considering a private student loan, students are encouraged to complete the process for determining eligibility for federal student loans which are normally less costly and offer better repayment terms. "Questions to ask a Private Lender (Top)
-- From the Project on Student Debt (see website below) Johns Hopkins University Financial Aid Code of Conduct and Policy on Education Loans Consumer Information on Student Loans (Top) For more information on comparing lender benefits, see the following website: http://projectonstudentdebt.org/loandiscounts.vp.html For questions to ask when considering a private loan, see the following website: http://projectonstudentdebt.org/private_loan_questions.vp.html Other Resources The following websites are available for researching other sources of financial aid. Please be sure to pay close attention to the stated application deadlines.
Click here for a list of potential resources for international students. Please pay close attention to application procedures and deadlines. International students may find the information on the websites below helpful in researching funding sources: |