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Alternative Loans
Alternative student loans or private loans are available to students who are not eligible for federal loans or who need assistance beyond their financial aid eligibility. These loans are made privately through banks and other financial institutions and are subject to their terms. Alternative student loans should only be considered after first applying for federal student aid, using the Free Application for Federal Student Aid (FAFSA).
Graduate students should consider taking out a Graduate PLUS Loan before an alternative loan.
Choosing a Loan
In determining which loan is best for your needs, it is important to research and compare loan interest rates and fees, repayment options, and eligibility requirements. We recommend the following website to explore your private loan options: www.finaid.org/loans/privatestudentloans.phtml.
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