Tips for Choosing an Alternative Loan
Alternative LoansAlternative loans, also called private loans, are offered by lending institutions as an additional source of funds for higher education. We encourage you to pursue Federal Stafford Loans and for parents to pursue Federal Plus Loans, before seeking Alternative Loans. These loans are not part of the federal government loan programs but they are good options after other financial aid sources have been exhausted.
Need an alternative loan? Financial aid staff at SIUE has done the research to prepare a list of alternative loan tips and to identify lenders that offer you the best loan terms and customer service. Carefully choose the lender that best meets your needs. Remember: borrow only what you need!
What to Look for in Choosing an Alternative Loan
To determine the best loan for your needs, consider
of these factors in your evaluation.