While most students are able to access need-based Canadian Government supported loan funds, to support their University studies, on occasion these funds are either unavailable to them or do not totally meet the student's calculated cost of attendance, for program fees and education related expenses at UNSW. In these instances, students may wish to apply for a private loan. Private loans are available from private non-government lenders, such as banks, and are solely based on credit history checks. Students may need a co-signer or collateral to access these funds. Please remember that all loans have associated fees and charges and also accrue interest from the start of the loan.

 

UNSW works closely with International Education Finance Corporation (IEFC), which is the Private Loan area of The Education Resource Institute (TERI) who is the guarantor for these loans. See www.iefc.com for detailed information on eligibility, interest rates and fees and application processes.

 

IEFC have developed the Canadian Higher Education Loan Program (CanHELP) to provide funding for Canadian students enrolled in universities outside of Canada . IEFC's preferred lenders are Bank of America, Wachovia and Citizens Bank, though students should do their own research into which lender and type of loan is most suited to their individual needs.

 

The UNSW Financial Aid Office  is able to provide assistance with any private loan questions, and will have to certify to the lender that the student is enrolled in at least 18 units of credit (uoc) to be eligible.