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Private Alternative Loans
Note: We encourage all students to consider federal
student loans before seeking private alternative
loans. In most cases, the federal interest rates and
repayment terms are more favorable.
Many loan programs are available for families
who are ineligible for financial aid or those who need
additional funds for their educational expenses. These
alternative sources may be a line of credit extended
to the family for four years or a supplemental loan
processed on a yearly basis.
In most cases, eligibility for alternative loans is
based on the personal credit history and financial
circumstances of the family. Since a credit rating is a
required part of the loan approval process, the parent
is usually the cosigner for this type of loan. If a
parent is willing to cosign a Private Alternative Loan
they may want to strongly consider the Parent PLUS
Loan since the terms are often more favorable than
Private Alternative Loans.
Before applying for an Alternative Student Loan,
please contact the Financial Aid Office.
You may contact TuitionPay at 1-800-635-0120
to obtain personal financing counseling, a Payment
Plan application or additional information. Visit their
website at:
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