Alternative Loans

Alternative loan programs are becoming more popular among students and parents as tuition costs rise.  In short, alternative loans are private loans made to students to help cover the cost of tuition.  These loans are based on consumer credit and feature competitive interest rates.  Most students require a co-signer.  Students can borrow up to the cost of attendance less any financial aid received.

A variety of lenders participate in these loan programs.  When applying for a private loan, it is important to do your homework.
Each of these loan programs is different, and you want to be certain you are getting what is right for you.  Spend a few moments comparing interest rates, fees, repayment terms, and requirements.

Special Note:  Students should be aware that alternative loans are not used as a credit towards tuition, fees, and room and board.  Students who are relying on alternative loans to pay these costs may have to pay out-of-pocket, and be reimbursed when the alternative loan funds are received.  For this reason, students and their parents should view alternative loans as a means to fill the gap in paying for living expenses.

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