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Private/Alternative Education Loans

Students and parents sometimes wish to borrow non-federal education loans, called “private loans” or “alternative loans,” to help with remaining college expenses. With many of these loans, lenders leave it up to the family to determine who the borrower will be, the student or a parent. Families need to be aware that if the student is going to be the primary borrower, he or she will likely need a credit-worthy cosigner.

Many private lenders offer attractive interest rates to families with excellent credit history, along with various repayment options. Different lenders have different benefits and advantages so students and parents should investigate several lenders before choosing which loan would best suit the needs of the family.

Lycoming College maintains a list of lenders our students have used over the past few years that offer educational loans. You can check here for a listing of potential lenders you may want to consider. Please note that this list is not inclusive or an endorsement of any specific lender or product.

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