(this link will explain why you should use federal aid before considering alternative or private loans)

 

A private/alternative loan is a nonfederal loan issued by a lender such as a bank or credit union.  Private student loans often have variable interest rates, require a credit check, and do not provide the benefits of federal student loans.

 

Even though alternative loans are not ideal, you may still need them.  If you find that this is your situation, please click here to view a list of some of the institutions that currently offer private loans to our students.