Private Education Loans (Alternative Loans)
Federal loans may not be enough to cover all of your school-related expenses. After you have received all of your federal loan eligibility, you may consider applying for a private education loan (also called an alternative loan). Here are some things you should know before you borrow a private education loan:
- Most private education loans charge higher interest than Direct or Perkins loans
- Each private education loan has their own unique terms and conditions.
- Most private education loans require at least 6 credits and an eligible cosigner.
- Private education loans cannot exceed your cost of attendance including grants, loans, scholarships, and other financial resources.
There are many lenders who participate in this type of funding. The Utah State University Financial Aid office does not endorse any specific lenders. We provide the links below as places to start in your search for additional loan funding. Please take the time to carefully research the terms and conditions of each lender before deciding on which alternative loan to borrow.
The following lenders have helped USU students with private loan funding over the past three years:
- Comstar Federal Credit Union
- SunTrust Bank
- New Jersey College Loan to Assist State Students (NJCLASS)
- Citizens Bank
- Alaska Student Loans
- Discover Student Loans
- Chase - JPMorgan
- PNC Bank
- South Western Federal Credit Union
- Mountain America Credit Union
- Citibank
- AmeriChoice Credit Union
- Union Federal Savings Bank
- Boeing Employee Credit Union
- Fynanz Student Loans
- SallieMae
- Star One Credit Union
- Wells Fargo Student Loans
- Digital Federal Credit Union
- Baxter Credit Union
Please note: This list has been randomly sorted.
FinAid.org offers a comprehensive overview of private education loan programs.
If you have general questions about private education loans, contact your financial aid counselor for assistance. For specific details you will need to contact the private education lender directly.
International students please note: Private education loans for international students generally require a US Citizen cosigner.