Can I Use My Private Loan to Pay My Past Due Tuition?

A private loan may be used to pay your past due balance from a previous semester or year. Contact your lender to verify that they will fund a loan for a past due balance. Each lender has different criteria when applying for a private loan.

Once you confirm the lender will fund a private loan for a past due balance, please ensure that you request the loan period in which the past due amount is located. Your private loan must be certified in order to cover your past due balance; they cannot be certified for more than the amount of the past due balance. Once the loan funds are received, they will be applied to your student account to pay your past due balance. 

 

Students can find more information on private loan borrowing and repayment by taking the Igrad courses listed below.

 

https://asu.igrad.com/courses/borrowing-private-student-loans
https://asu.igrad.com/courses/balancing-federal-and-private-student-loan-borrowing
https://asu.igrad.com/courses/repaying-federal-and-private-student-loans 


Related Articles:

• Can My Financial Aid for a New Academic Year Be Used to Pay Past ASU Charges?
• When Will My Private Loan Disburse?

Need additional help? Access 24/7 live chat, create a case from My ASU Service Center or call 855-278-5080.