Private Alternative Education Loans help bridge the gap between
the actual cost of your education and the amount you receive in
federal student loans. Private lenders offer alternative loans, and
there are no federal forms to complete. The federal government does
not guarantee alternative loans. These loans may be more difficult
to qualify for and can require a credit analysis to determine your
ability to repay the loan.
Since federal loans generally offer better terms and repayment
flexibility, it is wise to explore your eligibility for these loans
prior to considering an alternative loan.
If you have general questions about alternative loans, you may
contact your financial aid office.