Student Loan Opportunities

Students are encouraged to borrow only what they need and to seek outside scholarships and save summer earnings in order to reduce overall indebtedness. With a variety of student loan options available to full- and half-time students, the Office of Financial Aid will work with you to determine the best loan option(s) for you and your family.

Mikkelsen Library in Fall

What are Private Alternative Loans?

Private Alternative Loans are loans not guaranteed by the federal government and are not awarded as part of a student's financial aid package. The borrower (either student or parent) may borrow such a loan through various participants such as banks or credit unions to help cover educational expenses. Students should exhaust their eligibility in the federal loan programs before borrowing through a private student loan program.

Here are some processing tips for Private Alternative Loans:

Processing time will take between 20 and 30 days from application to disbursement due to new truth in lending regulations.
Loans are disbursed half in each semester. Plan your annual financial needs by June and complete the loan process by Aug. 1 to avoid delays in processing.
Utilize the online application processes whenever possible.