No. There doesn't seem to be fraud here. When you enrolled in the school it sounds like they didn't offer federal loans. You were aware of this, and took out a private loan. This was your decision. To be successful on a claim of fraud, you must show: (1) a false statement of a material fact, (2) knowledge on the part of the defendant that the statement is untrue, (3) intent on the part of the defendant to deceive the alleged victim, (4) justifiable reliance by the alleged victim on the statement, and (5) injury to the alleged victim as a result. You cannot sue merely because the school now offers a "better" financial aid program.