- Students and families may apply for these long-term, low-interest educational loans through lending institutions and nonprofit organizations in addition to, or in place of, federal loan programs.
- Students should first check on federal loan eligibility.
- Must have satisfactory credit history. Some loans require a co-signer or that the borrower meet debt-to-income ratio criteria.
- Loan certification by the school is required to disburse funds.
- Interest rates vary based on credit eligibility. Check with several lenders for both front and back-end benefits.
Annual/Aggregate Loan Limits
- Not based on financial need
- Cost of attendance less financial assistance
- Alternative loans are considered part of a student's financial aid package and cannot exceed the cost of attendance budget.
Length of Repayment
Length of repayment varies based on lender's criteria.