Private Loans

Houston Christian University’s Financial Aid Office awards federal loans in the student’s initial award package. Sometimes students may have a gap remaining between their cost of attendance and estimated aid and may choose to pursue other lending options. All students are strongly encouraged to request the federal and state loan options that may be available to them before applying for any private loans.

Fast Choice Loan Comparison Tool

Selecting a lender is the most important choice you will make before you can begin applying for a private loan. Fast Choice has listing of private lenders that HCU students have used in the past, however you are not limited in your selection to the lenders listed here. The choice of lender is entirely yours so your selection should be made after careful research of which lender suits your needs and offers the lowest rates possible. 

  • Read all of the eligibility requirements for a loan before you apply in order to ensure you meet the criteria. Some require specific requirements to be met before the loan is approved. Call the lender if you have questions about which program might be the best for you before you begin the application process.
  • Most undergraduate students do not have a credit history which qualifies them for a private loan without a credit-worthy co-signer so it is always beneficial to have a co-signer ready in the event that you may be required to have one. Co-signers are also liable for the loan when repayment begins. If your parent was denied a Federal PLUS loan for credit reasons, then that particular parent will not qualify as a co-signer on a private loan.

Access Fast Choice

Applying for a Private Loan

After you select your lender then you need to complete the following two steps to apply for a private loan:

  1. Select a lender. Fast Choice has a listing of several lenders that our students have used in the past. You do not have to chose one of the lenders listed. HCU will process student loan applications from any legitimate lender.
  2. Apply online with your preferred lender. A credit check will be processed once the application is submitted.
  3. Complete your lender’s required Master Promissory Note (MPN) and Self-Certification Form. Both forms must be completed in order to receive any funding. Your lender will disclose to you the expected disbursement date(s) that the funds will be received at HCU.

After these two steps are completed, the lender will submit your approved loan to the Financial Aid Office for processing. Please allow at least two weeks for processing time.

College Access Loan

The College Access Loan Program (CAL) provides an alternative educational loan to Texas residents who need assistance in meeting the cost of attendance. The amount of federal aid for which the student is eligible to receive even if it is not accepted will reduce the cost of attendance to determine the CAL loan amount. This loan requires a separate application and credit check process through the Texas Higher Education Coordinating Board.

Students must:

  • Be a Texas resident
  • Be accepted for enrollment and enrolled at least half-time in either
    • a course of study leading to a certificate, an associate, baccalaureate, graduate, or higher degree or
    • an approved alternative educator certification program
  • Meet the university’s satisfactory academic progress requirements
  • Receive a favorable credit evaluation or provide a cosigner who has a good credit standing and meets other requirements.