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Alternative/Private Loans


  • 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

  • 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.

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