Title 1, Part E of the Higher Education Act of 1965, as amended (HEA), includes certain requirements for lenders that make private education loans and institutions involved in preferred lending arrangements regarding those loans. The law requires institutions to make specific disclosures to borrowers of private student loans, report related information to the Department, and comply with critical protections and prohibitions against conflicts of interest.
We are pleased to announce the availability of a Private Education Loan Information Topics page in Federal Student Aid’s Knowledge Center to assist institutions by providing a repository for regulations, guidance, and other information. It will be updated as additional information is released.
The Topics page includes an updated version of the Private Education Loan Applicant Self-Certification form (Self-Certification form) under OMB Control Number 1845-0101 with an expiration date of 8/31/2025. Beginning on the date of this announcement, at the request of an enrolled or admitted student applicant for a private educational loan (or to the parent loan applicant of an enrolled or admitted student) this form must be provided by institutions and private educational lenders in order to satisfy the requirements of section 487(a)(28) of the HEA and section 128(e)(3) of the Truth-in-Lending Act (TILA).
If you need additional information about institutional requirements for private education loans, visit the FSA Partner Connect Help Center; select Contact Customer Support (Topic: “FSA Ask-A-Fed/Policy”).