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Private Loans

Private/Alternative Student Loans

Private, or alternative, loans are offered by private lenders to assist students with educational and living expenses not covered by other financial aid and should only be used as a last resort after all federal loan options have been exhausted.

Before students apply for a private, or alternative, loan, the Financial Aid Office recommends students complete the Free Application for Federal Student Aid (FAFSA) at https://fafsa.ed.gov/ and apply for the maximum Federal Direct Stafford Loan they are eligible to receive before applying for a private, or alternative, loan.

The Financial Aid Office also recommends that parents consider applying for the Federal Direct PLUS Loan before the student applies for a private, or alternative, loan.

Private, or alternative, loans are not federally funded. The interest rates on these loans are often variable therefore, they are generally more expensive than Federal educational loans.

Alternative loans are credit-based loans and in most cases, a credit worthy co-applicant is required. Alternative loans cannot be consolidated with Federal Direct Stafford Loans.

Apply for Private/Alternative Loans

Private/Alternative Parent Loans

Private Parent Loans: Private Parent Loans are offered through private lenders. These are private loans that a parent or sponsor can borrow on behalf of a student and a credit check is used to determine eligibility.

To learn more about the products offered by the Private Parent Loan lenders we work with or to apply, visit the below listed link.

Learn More/Apply for Private/Alternative Parent Loan

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