Alternative Loans
Alternative education loans are created and offered by private lenders. They are credit-based loans that help students "bridge the gap" between the financial aid they have been awarded and any additional amount they feel may be needed to help achieve their educational goals. The lender sets the terms and conditions of the loan. Unlike Federal Direct loans which are created and guaranteed by the federal government, alternative education loan terms vary from lender to lender. All students are advised to utilize all federal financial aid, including Federal Direct loans, before borrowing an Alternative Education Loan.