Eligibility for private loans is determined solely by the lender, UCD is not involved in any decision to approve or reject a loan application.
Private Loans
Advice on Applying for Private Loans
Applying for Private Loans
Private education loans may be an option for students who are enrolled in programs that are ineligible for U.S. federal (Title IV) financial aid, such as:
- Non-degree courses, such as diploma or certificate programs
- Distance learning courses
- Hybrid programs that include study time in the United States (e.g. internships, independent research) while remaining enrolled at UCD
Please see our FAQ section below for more information.
FAQs
Applications for private education loans are made directly through the lender (based in the U.S.). UCD currently processes loan applications for Sallie Mae and Earnest Navient, UCD will receive the application from your lender and will process the loan and the disbursement of the funds.
Important: If you intend to apply for a private loan, please notify us in advance by contacting (opens in a new window)federalaid@ucd.ie.
If you are planning to take Private loans, only UCD can provide you with a Cost of Attendance e.g., the educational institute’s official estimate of the student’s tuition and living costs for the academic year of study.
Students borrowing a combination of Federal Aid and private loans must not exceed the total cost of attendance.
If you are ineligible for U.S. federal loans, you may be able to use a U.S. private student loan to support your studies, additionally you can use a combination of U.S. Federal Aid and Private loans, provided the combined loans total does not exceed your cost of attendance.
You are strongly advised to investigate U.S. Federal Loans before applying for a private student loan.
How to apply: Contact (opens in a new window)Sallie Mae Student Loans or (opens in a new window)Earnest directly.
Certification and disbursement: UCD will be required to certify both Earnest and Sallie Mae Student Loans. If you are successful with your loan application, the loan funds will be disbursed to the UCD. See "How will my Earnest or Sallie Mae loan be paid to me (disbursed)?" below for further details.
For Sallie Mae and Earnest Navient Loans UCD is required to access an administrators portal and certify the loan, if this step is not followed loans will not be disbursed.
Once we originate your loans we will issue via email the Private Loan Certification Letter, showing all the details of your loan such as the amount requested, the certified amount, and the scheduled disbursements.
Private loans from Earnest and Sallie Mae are disbursed (paid) to UCD in US dollars. When UCD receives the funds, they are converted into euro using the exchange rate on that date.
Disbursements will be posted to your UCD nominated bank account.
UCD cannot assist with cancelling, returning, increasing or decreasing your loans, please contact your lender directly for further advice.
If you withdraw from your program or interrupt your studies you must email (opens in a new window)federalaid@ucd.ie
It is possible to borrow a combination of private and federal loans (e.g. Direct Loans or PLUS Loans). However, the total amount borrowed cannot exceed your cost of attendance (COA) as determined by UCD.
Before applying for a private loan, please keep in mind:
- Not all lenders will fund students studying outside the U.S.
- Some lenders require a creditworthy U.S.-based co-signer
- Interest rates and repayment terms can vary significantly between lenders
- Unlike federal loans, private loans may have limited borrower protections (e.g. deferment or income-driven repayment plans)
Important Note: In many cases, federal (Title IV) loans, such as Subsidized, Unsubsidized, or PLUS Loans, may offer more favorable terms and conditions than private loans. Always compare options carefully.