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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