Alternative Loan Programs

Alternative loans are loans administered by private lenders. There are a variety of lending institutions that offer these loans.

Typically, one would apply for a Federal Stafford Loan and then the Federal GRAD PLUS Loan (if the student is dependent) and then, if additional funding is needed, apply for one of these loans.

Application is made directly through the lending institution. As a part of this process, the School certifies that you are an enrolled student and provides other information.

This is only a suggested list to help you in the process of choosing a lender, if you want to process your loan with a lender not included in this list feel free to do so.

Citibank Citiassist

www.studentloan.com
1-800-692-8200

Requires Satisfactory Academic Progress: NO
Allows You to Pay Prior Tuition: YES
Web Based Application: YES
Interest Rate: Prime + 0.375% to 4.0%
Fee: None
Notes: Pre-approval online; no co-signer if student qualifies
Release of Co-signer option: YES, per request

Key Bank - Key Alternative Loan

www.key.com/html/H-1.33.b7.html
1-800-KEY-LEND

Requires Satisfactory Academic Progress: NO
Allows You to Pay Prior Tuition: NO
Web Based Application: YES
Interest Rate: 5.21% with co-signer; 5.76% without co-signer (reviewed quarterly)
Fee: 4% With co-signer 9% Without co-signer
Release of Co-signer option: YES

Sallie Mae - Signature Loan

www.salliemae.com/signature
1-800-695-3317

Requires Satisfactory Academic Progress: NO
Allows You to Pay Prior Tuition: YES
Web Based Application: YES
Interest Rate: As low as Prime minus 0.25% to Prime plus 6.00% (Reviewed Monthly)
Fee: Varies with credit rating up to 3%
Notes: Student borrowers who have established good credit can be approved on their own, with no income requirement.
Release of Co-signer option: YES

Access Group

www.accessgroup.org
1-800-282-1550

Requires Satisfactory Academic Progress: NO
Allows You to Pay Prior Tuition: YES
Web Based Application: YES
Interest Rate: 3-month LIBOR (London Interbank Offered Rate) + 2.75%
Fee: 6.5% at repayment
Release of Co-signer option: YES

Teri

www.teri.org
Requires Satisfactory Academic Progress: YES
Allows You to Pay Prior Tuition: YES
Web Based Application: YES
Interest Rate: Based on the credit of borrower and co-signers
Release of Co-signer option: YES

Wells Fargo Collegiate Loan Program

www.wellsfargo.com/student/
1-800-658-3567

Requires Satisfactory Academic Progress: NO
Allows You to Pay Prior Tuition: Up to 7 months
Web Based Application: YES
Interest Rate: Prime + 0 to 6%
Fee: None
Notes: Interest Rate is based on the credit of the borrower & co-signers
Release of Co-signer option: YES

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