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Alternative Loans
We recommend that you fill out the Free Application for Federal Student Aid (FAFSA), even if you think that your family will not qualify for aid. While high-income families may not be eligible for the Federal Grant programs, all students are eligible to borrow the Unsubsidized Stafford Loan. This Federal program has low interest rates, generous deferment options, and is one of the best options for borrowing available to students who don't qualify for other need-based educational loans. You can complete the FAFSA on-line at: www.fafsa.ed.gov.
There are many Alternative
Educational loan programs available through a variety of commercial banks. Alternative loans are designed to be similar to government-sponsored educational loans, often allowing in-school deferment of payments. However, alternative loans will perform credit and eligibility checks before granting the loans. Often, a cosigner is required. International students may be required to provide a cosigner, contact the lender for details. Interest rates are higher than the government-sponsored educational loans, but still may be a better option than other kinds of loans available to families.
Please click here for additional information about alternative loans.
Last Updated: 8/2/2010
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