Alternative or private loans are loans borrowed from an outside lender, such as a bank. Alternative loans are one way to assist with educational costs not covered by federal and state grant and loan programs. A student can usually borrow an alternative loan in his or her own name with a parent or other person as a credit-worthy co-signer.

Please note alternative loans have varying terms and conditions. Also note all loans must be repaid; it is recommended you only borrow the amount you need.

To learn more about alternative loans and review a list of lenders, please click on the following link:

Alternative Loans/List of Lenders

Parent PLUS loans vs. Alternative Loans