Students and/or parents can seek alternative loans through a private lender if other financial aid options have been exhausted.

Follow these instructions:

  1. Peruse ELMSelect to find information about private lenders and compare alternative loans, or independently find a private lender of your choice.
  2. Secure a loan with an outside lender.
  3. To complete loan certification, email and request that your loans be certified.

Our loan processor will then notify you by email of next steps.

Email for more information, requests or questions.


Adams State University will certify private loans from any lender. Terms, fees, and borrowing limits of private loans differ. Borrowing a private loan is a decision that should be made with careful consideration. When selecting a private loan provider, we recommend that you consider all of the following:

  • Which academic levels (graduate vs. undergraduate) are eligible
  • The amount of any origination or repayment fee percentage
  • The annual borrowing limit
  • What financial indicator the interest is based on (e.g., LIBOR, Prime)
  • The citizenship level required
  • Whether or not there is a cosigner release option available
  • How creditworthiness is determined
  • Whether or not you need this funding for past due balances to Adams State
  • The ability to sign your promissory note or other documents electronically
  • Whether or not there is a prepayment penalty
  • The maximum repayment term
  • The minimum number of enrollment hours needed to be eligible
  • The number and range of repayment options

Also consider: It’s a good idea to apply with a cosigner even if you are approved for the loan on your own. A cosigner may lower the interest rate of the loan since the loan will also be based on your cosigner’s credit rating. A lower interest rate will lead to a lower monthly payment, in turn making the overall loan indebtedness less. If you have poor credit history or if you have no credit at all, many banks may require you to get someone to cosign your loan application before they give you the loan.

New Federal Regulations require any student who applies for a private loan to complete a self-certification form. Most lenders will provide the self-certification form during the online application process. The form must be completed and submitted to the lender prior to any disbursements being made to your student account at Adams State.

You may also download the self-certification form, complete it, and submit it with your private loan application to the lender. Your Cost of Attendance (COA) and Estimated Financial Assistance (EFA) information needed to complete the form can be obtained from either your award letter or from your One Stop Student Account.